President Barack Obama looks to longtime fundraiser and philanthropist Penny Pritzker, right, in the Rose Garden of the White House in Washington on Thursday where he announced that he will nominate Pritzker to run the Commerce Department and economic adviser Michael Froman, left, as the next US Trade Representative. — AP WASHINGTON — President Barack Obama on Thursday chose two old friends with business executive experience for top posts on his economic team, naming longtime fundraiser Penny Pritzker to the Commerce Department and adviser Michael Froman as US Trade Representative. Pritzker, a Hyatt hotel heiress, businesswoman and philanthropist, is Obama's pick to fill a Cabinet post that has been vacant since former Secretary John Bryson resigned after he said he suffered a seizure that led to a series of traffic collisions. Froman is one of Obama's law school classmates and senior economic advisers who previously worked as an executive at Citigroup. The Cabinet-level trade post performs as the administration's top adviser and negotiator on international trade. Obama is putting more emphasis on trade in his second term. He has called for negotiations with Europe aimed at creating the world's largest free trade agreement linking partners that together account for half of the world's economy. But agricultural issues may stall this effort as they have in the past. Another trade issue is negotiations over the Trans-Pacific partnership, an Asia-Pacific trading bloc that is key to Obama's efforts to boost exports to Asia. Members include the US, Australia, Canada, Malaysia, Mexico, Vietnam, Chile, New Zealand, Brunei, Singapore and Peru. Last month, the US approved Japan's entry into negotiations on the trading bloc. If confirmed by the Senate, Froman would replace Ron Kirk, who stepped down as trade representative in February after serving in the post throughout Obama's first term. Obama made the announcements in the White House Rose Garden just before departing for Mexico. The nominations, which require Senate confirmation, complete Obama's picks to fill his second-term Cabinet. Obama said the two will help fulfill his top priority to grow the economy and create middle class jobs. “I intend to work both of them to the bone as soon as they are official,” Obama said to laughter from a crowd that included the nominees' families and administration staff. If confirmed, Pritzker would become the fourth woman serving as secretary in Obama's current Cabinet. She also would be the wealthiest in the Cabinet by far, with Forbes estimating her net worth at $1.85 billion and ranking her as the 277th richest American. Pritzker is a lifelong Chicagoan who has known Obama since the 1990s and raised hundreds of thousands of dollars for both his presidential campaigns. She was his finance chairwoman in 2008, served as co-chair of Obama for America 2012 and gave $250,000 to help put on his inaugural festivities in January. Froman, Obama's deputy national security adviser for international economic affairs, is steeped in the issues confronting the trade representative. He has been Obama's main representative at international economic summits such as the meetings of the Group of Eight and Group of 20. He is responsible for coordinating White House policy on international trade, investments, energy, climate and development. Froman served during President Bill Clinton's administration as chief of staff to Treasury Secretary Robert E. Rubin. He also worked as deputy assistant secretary for Eurasia and the Middle East and did a White House stint similar to his current job under Obama. — AP
