Obama to nominate new commerce secretary, USTR

US President Barack Obama will nominate a successful Chicago businesswoman as the next Commerce Secretary and his Deputy National Security Advisor as the new US Trade Representative (USTR), according to a White House official.
Obama has chosen Penny Pritzker from Chicago as his new Commerce Secretary and Michael Froman, his Deputy National Security Advisor for four years, as the new US Trade Representative.
Froman is a known India hand at the White House and has been involved in almost all the key India policies emanating from the Obama Administration in its first term.
Billionaire Pritzker, who is from Obama's hometown of Chicago, is one of the most accomplished and highly respected women in business today.

She is currently the chairman and CEO of PSP Capital Partners and its affiliate Pritzker Realty Group, and also chairs Artemis Real Estate Partners.
She is a close friend of Obama and has been among his key fundraisers for both his presidential campaigns.

Serving on the President's Council on Jobs and Competitiveness, and on the President's Economic Recovery Advisory Board, she was the driving force behind Skills for America's Future - an innovative programme that brings together businesses, community colleges and others to prepare workers for 21st century jobs and connects them with employment.
Froman currently serves as an Assistant to the President and Deputy National Security Advisor for International Economics. He has fought to open markets and level the playing field on behalf of the American workers for the past four years.

As Obama's top adviser on international economics, Froman is responsible for coordinating the Administration's policies on international trade and finance, energy security and climate change, and development issues.
He is well-known among leaders and ministers around the world and has a reputation for his strong negotiating skills and for being a troubleshooting economic diplomat who gets things done.
Froman served as the principal White House negotiator in completing trade agreements with Korea, Colombia and Panama, supporting over 70,000 jobs and oversaw the creation of the Interagency Trade Enforcement Centre, to crack down on unfair trade practices and level playing field for American workers.

He also serves as the President's 'Sherpa', leading preparations for over a dozen international economic summits including the G-8, G-20, and APEC.
He oversees the Administration's economic engagement with China, India, Brazil, Russia, Japan and the European Union and the development of economic strategies for the Middle East and Africa.
Froman also served in a variety of roles during the Clinton Administration including on the White House National Economic Council and as Chief of Staff of the Department of the Treasury.