WASHINGTON — The Senate confirmed Wilbur L. Ross, the billionaire investor, as commerce secretary on Monday, installing a key leader for the Trump administration’s plans to overhaul trade deals such as the North American Free Trade Agreement.

By a vote of 72 to 27, the Senate confirmed Mr. Ross, who has already been advising President Trump on economic policy and helping him to craft ways to rewrite the tax code. A renegotiation of Nafta is expected to be Mr. Ross’s top priority when he takes over the job. During his confirmation hearing in January, he warned that “all aspects” of the agreement between the United States and its northern and southern neighbors are on the table.

With the confirmation of Mr. Ross, the most important members of Mr. Trump’s economic team are in place just in time for looming fights over the budget, health care and tax legislation.

Compared with some of Mr. Trump’s other cabinet picks, Mr. Ross had his confirmation process move ahead with relative ease. He faced less resistance from Democrats than Steven Mnuchin, the Treasury secretary, and Andrew F. Puzder, whose nomination to lead the Labor Department was derailed.