The U.S. Senate confirmed Wilbur Ross as U.S. Commerce secretary. During the voting the candidacy of the billionaire was supported by more than a half of one hundred voices of senators, CNN reported.

Worth an estimated $2.5 billion, Wilbur Ross,79,  has extensive business ties around the globe. In 2000, he founded WL Ross & Co., a private equity firm. As part of his ethics agreement, Ross will divest from the firm.

During his Senate testimony, Ross warned trading partners to practice “fair trade” and cut state control over business if they want access to the world’s biggest economy.

“I am not anti-trade,” he said. “I am pro-trade. But I am pro-sensible trade, not trade that is detrimental to the American worker and to the domestic manufacturing base.”