Trump to face less internal pushback in new term: ex-commerce chief - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Economic News
Newswires RSS Get our newsletter
Order Prints
November 26, 2024 Newswires
Share
Share
Post
Email

Trump to face less internal pushback in new term: ex-commerce chief

Beiyi SEOWThe Courier-Times

Donald Trump's staff choices will ensure he faces less internal pushback on his aggressive economic policies, such as tariff hikes, than during his first term, former commerce secretary Wilbur Ross told AFP Monday.

Ross, who served throughout Trump's 2017-2021 presidency, told AFP that his ex-boss has a bigger pool of supporters with both government and business experience to choose from this time around.

"That is not to say that the cabinet would just give a blank check to everything that he wanted to do," Ross told AFP in an interview.

The 86-year-old said he does not expect everyone to be aligned on an across-the-board 10 percent tariff on all imports, or steep 60 percent tariff rate on Chinese goods, as Trump floated during the campaign trail.

"But I don't know of anybody who is just inherently opposed to Trump's policies," he said of the president-elect's appointees so far.

While Trump made swift and sometimes controversial choices for his new administration shortly after winning the November 5 presidential election, he took a longer time deciding his top economic team.

Last week, he named his transition team co-chair Howard Lutnick his commerce secretary and billionaire hedge fund manager Scott Bessent to helm the Treasury Department. Both will need to be confirmed by the Senate.

His choice of Bessent was particularly cheered by Wall Street, with the Dow Jones Industrial Average closing at a record on Monday afternoon.

Trump has yet to select his trade envoy, but said Lutnick would have direct responsibility over the US Trade Representative's office -- an agency separate from the Commerce Department.

It is unclear if Trump's former USTR Robert Lighthizer would return to the same role, but Ross said he expects him to remain influential within the president-elect's orbit.

- Past conflict -

During his first term, Trump encountered fierce disagreement from top economic adviser Gary Cohn, who resigned in protest at his decision to impose steep US tariffs on imported steel and aluminum.

Ross noted that even Cohn's replacement as White House economic advisor, Larry Kudlow, was initially less inclined to implement tariffs compared with someone like Lighthizer or himself at Commerce.

"Elsewhere in the government, both at the senior, permanent staff level and elsewhere in the White House, you had also divergent views on trade," Ross said.

Trump also imposed duties on hundreds of billions of dollars in Chinese goods during his first term, part of an escalating trade war with the world's second biggest economy that sparked pushback from even some Republicans in Congress.

- Not 'irrational' -

This time, Ross said, Trump is less likely to face opposition from congressional Republicans given that several stronger proponents of free trade have retired.

There is also more consensus on tariffs both within the Republican party and across party lines, Ross argued.

"I think the myth of free trade has largely been dispelled," he said.

He described countries as tending to seek a greater global economic share rather than simply exporting what they produce best and importing other goods they need.

Defending Trump's position on tariffs, Ross said it does not work to impose them on just one country, like China, as businesses can simply re-route products through other economies.

He expects Trump's eventual trade policy should not be seen as "irrational," noting that there will likely be exceptions for goods like semiconductors, for which the United States remains reliant on other countries.

"I really think it depends a lot on how other countries start reacting to his overture," added Ross, who has just released his memoir.

bys/des

Older

Legislation introduced to combat financial threats from Chinese Communist Party

Newer

New mortgage activity in Hartford region beating many U.S. cities: study

Advisor News

  • Retirement is increasingly defined by a secure income stream
  • Addressing the ‘menopause tax:’ A guide for advisors with female clients
  • Alternative investments in 401(k)s: What advisors must know
  • The modern advisor: Merging income, insurance, and investments
  • Financial shocks, caregiving gaps and inflation pressures persist
More Advisor News

Annuity News

  • Retirement is increasingly defined by a secure income stream
  • Beyond the S&P 500: The case for RILA diversification
  • Globe Life Inc. (NYSE: GL) Making Surprising Moves in Monday Session
  • Aspida Life and WealthVest Offer a Powerful New Guaranteed Income Product with the WealthLock® Income Builder
  • Lack of digital tools drives wedge between insurers, advisors
More Annuity News

Health/Employee Benefits News

  • Insurance won’t cover Ozempic? WA court sparks discrimination debate
  • Illinois Quick Hits: Gas tops $5 a gallon
  • Humana Invests More Than $1 Million to Advance Health Outcomes Across Louisiana
  • State Officials Mark Mental Health Awareness Month, Cite 2025 Parity Law
  • 40,000 pregnant Texans faced monthlong wait for Medicaid application to be processed
More Health/Employee Benefits News

Life Insurance News

  • New Empathy and LIMRA Research: The Overlooked Opportunity to Engage the Next Generation After an Insurance Payout
  • Symetra Names Jeff Sealey Vice President, Stop Loss Captives
  • 3 ways AI can help close the gap for women’s insurance coverage
  • Best’s Market Segment Report: AM Best Revises Outlook on Italy’s Life Insurance Segment to Stable From Negative
  • Globe Life Inc. (NYSE: GL) Making Surprising Moves in Monday Session
More Life Insurance News

- Presented By -

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Why Blend in When You Can Make a Splash?
Pacific Life’s registered index-linked annuity offers what many love about RILAs—plus more!

Life moves fast. Your BGA should, too.
Stay ahead with Modern Life's AI-powered tech and expert support.

Bring a Real FIA Case. Leave Ready to Close.
A practical working session for agents who want a clearer, repeatable sales process.

Discipline Over Headline Rates
Discover a disciplined strategy built for consistency, transparency, and long-term value.

Inside the Evolution of Index-Linked Investing
Hear from top issuers and allocators driving growth in index-linked solutions.

Press Releases

  • JP Insurance Group Launches Commercial Property & Casualty Division; Appoints Joe Webster as Managing Director
  • Sequent Planning Recognized on USA TODAY’s Best Financial Advisory Firms 2026 List
  • Highland Capital Brokerage Acquires Premier Financial, Inc.
  • ePIC Services Company Joins wealth.com on Featured Panel at PEAK Brokerage Services’ SPARK! Event, Signaling a Shift in How Advisors Deliver Estate and Legacy Planning
  • Hexure Offers Real-Time Case Status Visibility and Enhanced Post-Issue Servicing in FireLight Through Expanded DTCC Partnership
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet