The US Senate voted 72 to 27 to confirm Wilbur Ross as commerce secretary.
Ross is a successful investor who made a career out of turning around failing companies.
During his confirmation hearing Ross pushed the idea of taking a tough stance on China, citing it as one of the most protectionist of the world’s major economies.
Ross will also take a lead role in re-negotiating NAFTA, one of Trump’s key campaign pledges.
Forbes estimate Ross’ net worth at $2.5 billion. He also owns an art collection worth an estimated $150 million.