President Donald Trump is considering replacing Commerce Secretary Wilbur Ross, U.S. media reported Friday, in a move that could affect U.S. trade policy toward major partners such as Japan, China and the European Union.

Trump wants to replace Ross "by the end of the year," with Linda McMahon, head of the Small Business Administration, the likely successor, U.S. business news network CNBC said, quoting three people familiar with the matter.

Politico reported that Ross' fate depends on whether the Democratic Party will use its new majority in the House of Representatives to investigate his finances and questions surrounding his divestiture of assets.