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Media: Ross must sell out to become Trump's secretary of commerce

Major investor Wilbur Ross has been granted more time to map out his business investments in industries including shipping ahead of a hearing Wednesday. But he must sell out of a number of investments and give up important posts, writes Wall Street Journal.

Photo: Tony Dejak/AP/Polfoto/Arkiv

US capital fund owner and major investor in industries including shipping, Wilbur Ross, must pull out of a huge number of his investments before being approved as the new secretary of commerce in the upcoming Trump administration. This is according to lawyers and former officials speaking to the Wall Street Journal.

On Wednesday this week – two days before Donald Trump's Friday inauguration – Ross will face a confirmation hearing with the Senate Committee on Commerce, Science and Transportation, which is to approve Trump's ministerial candidates. Ross has previously been granted more time to prepare the public release of his financial information.

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