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The Latest Breaking News from Wilbur Ross

Trump faces a catch-22 on Iran because of midterms, says his former commerce secretary: Face inflation furor or withdraw and look weak

“The war itself, in a kind of technical sense, is over … The question is, can we win the peace? And that’s what Hormuz is about,” Trump’s former commerce secretary, Wilbur Ross, exclusively tells Fortune.

Fortune

The crypto-treasury dream unravels after a 90% stock plunge

ReserveOne had agreed to combine with M3-Brigade Acquisition V Corp., a special-purpose acquisition company, or SPAC, whose sole purpose is to find another entity to buy, taking it public in the process. Ross did not back the deal financially, but after it closed, he was slated to join ReserveOne’s board.…

The Economic Times

US and China seek to repair damage from tariff war that sent trade into a freefall

President Donald Trump's trade war with Beijing has sent U.S.-China trade into a freefall and forced companies on both sides of the Pacific to regroup

The Independent UK

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The war with Iran has defense experts wondering if Khamenei will activate sleeper cells on U.S. soil

"It's one thing to want to do something and then it's another to be able to do something."

Fortune

American consumers are the ultimate losers in the ‘immense mess’ of $175 billion in tariff refunds, says Trump’s former commerce secretary

The Supreme Court ruling also allowed Trump a peculiar loophole to strengthen his hand against bargaining trade partners, Ross said.

Fortune

The U.S. has shown China and Russia ‘who really is a military power,’ says Trump’s ex–commerce secretary. Don’t expect them to get involved in Iran

Speaking exclusively with Fortune, Wilbur Ross said the Iran war “is going at least as well as anyone could have hoped,” and that he is “intrigued” that China and Russia have not intervened.

Fortune

Trump’s unprovoked attack on Iran has no mandate – or legal basis

US president violates UN charter just days into his Board of Peace era, and chooses to take the biggest gamble of his administration

The Guardian - UK

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Trump’s former trade architect says the president can’t backtrack on tariffs because he’s ‘too committed’ now: ‘That would be a pretty horrific decision’

The Supreme Court will begin hearing arguments Wednesday over whether President Donald Trump overstepped by using emergency powers to impose tariffs on more than 100 countries.

Fortune

‘Rare earths are a very useful weapon for China’: Former Commerce Secretary Wilbur Ross on the big economic danger

The past week could just be a preview to China weaponizing its entire supply chain, the investor told Fortune.

Fortune

Bill Gates, Reid Hoffman‑Backed iRocket Will Go Public In $400M SPAC Deal With Wilbur Ross's Firm–Shockwave Rocket Sets 2027 Launch

In a move that feels like science fiction come to life, Innovative Rocket Technologies Inc., the small New York launch startup backed by Bill Gates, Reid Hoffman, and Eric Schmidt through Village Global, announced on June 2 that it is gearing up for a $400 million special purpose acquisition company merger…

Benzinga

Trump has given Powell 'no motivation to cooperate' says former White House commerce secretary—he might now be paying the price for it

Trump's former commerce secretary, Wilbur Ross, tells Fortune that President Trump has given the Fed an unwinnable dilemma.

Fortune

Don't let EU, Japan deals lull you into a sense of security, says Trump's former commerce secretary—a trade war with China may still be in the cards

"We're in much better shape because it's now clear that if there's gonna be a real trade war with anyone, it would just be with China," Secretary Ross tells Fortune.

Fortune

TACO returns to Wall Street: Investors shrug off Trump’s latest tariff threat as nickname sets the investor’s mood

Experts weigh in on whether Trump will carry out his latest threat – and the consensus is that the uncertainty looming over the U.S. economy can’t continue, Rhian Lubin reports

The Independent UK

Sam Altman saw Musk's fallout with Trump coming: 'Elon busts up with everybody'

The falling-out between Elon Musk and Donald Trump came as no surprise to those who have worked closely with the individuals, such as OpenAI's Sam Altman.

Fortune

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Fortune

'Big Short' investor warns the precarious tariff environment reminds him of WWI—and a trade war would send the U.S. into a recession

"The tariffs and the potential for a trade war, I think, is really the only risk to the market right now,” Steve Eisman said.

Fortune

Exclusive: Trump’s former commerce secretary says an overconfident White House may push trade allies like the EU too far

The Trump administration is scoring wins with its new foreign policy, says Wilbur Ross, but runs the risk of getting overconfident because of its successes.

Fortune

Exclusive: Trump's fixation with 90-day pauses is less about foreign governments, and more about signing deals by mid-terms, says his former commerce secretary

"In history the senators always had a big voice in tariffs—so far he hasn't given them any voice, and there's always the danger that they will suddenly start to exert a voice," Wilbur Ross tells Fortune.

Fortune

Trump's tariff deal 'quietly' added 10% raise which nobody is complaining about anymore, says Wilbur Ross

"When you think about it, in the normal course, getting quietly to do a 10% tariff on everything from everywhere was a huge achievement," Wilbur Ross tells Fortune.

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The Independent UK

Wall Street gets its Trump wake-up call

Analysis: Wall Street is freaking out about Trump’s trade war. But it was always in plain sight

Fortune

Elaine Chao: ‘What you all want is certainty and you’re not going to get it’

Also: Tesla bulls turn on Elon, Europe’s busiest airport was closed by a huge fire.

Fortune

Elon Musk called Donald Trump about claims he was a puppet president, saying: 'They're trying to drive us apart'

Elon Musk called the president to address speculation that he was the real power in the White House—but Trump remains unfazed.

Top News

Trump's Tariff Threats: Exclusions Likely, Impact Uncertain

President Trump's pending tariff threats and differing views on blanket tariffs post-election win.

Fortune

CFOs should take Trump's tariff plans 'very seriously,' says KPMG exec

There are three major factors corporate tax departments must face in 2025.

Fortune

Trump won't deliver on maximum tariff pledges, says his former commerce secretary

EXCLUSIVE: Wilbur Ross, who served as commerce secretary in Trump’s first cabinet, said the president will not have to follow through on tariff threats.

Fortune

Trump will be more 'confident' in second presidency, says his former commerce secretary—and Elon Musk won't present a problem

EXCLUSIVE: President-elect Trump will be buoyed in his second round at the White House by experience and a team already in place, said former Secretary of Commerce Wilbur Ross.

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