Obama picks security adviser Froman for USTR

U.S. President Barack Obama said Thursday he has nominated Mike Froman, White House deputy national security adviser for international economic affairs, as the new U.S. trade representative.

At a press conference at the White House, Obama also announced his nomination of Chicago businesswoman and Obama fundraiser Penny Pritzker as the new commerce secretary.

Stressing their close relationship over two decades, Obama said Froman has "established himself as one of the world's foremost experts of the global economy."

Froman is also familiar with international trade issues and has been involved in the Trans-Pacific Partnership and other free trade negotiations.

Obama also hailed Pritzker's private sector career, saying, "Penny is one of our country's most distinguished business leaders...She is going to make America a magnet for good jobs."