Speaking at his Senate confirmation hearing, Ross said, “The best way to deal with the trade deficit is increase exports,” and advocated a push “to get Toyota and other companies like that to build their factories here so that workers do have not only continued employment but enhanced employment.”

Ross, a billionaire private equity investor, said the incoming administration of President-elect Donald Trump can boost investment in the United States with tax cuts, deregulation and other incentives. (Kyodo News)