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The White House also credits him with setting up a new center to crack down on unfair trade practices and overseeing trade policy for the administration.
Froman also has strong business ties, having worked at Citigroup.
If confirmed, he’ll take charge of what the Obama administration has said will be an aggressive trade agenda in Obama’s second term. The president has called for negotiating a major new trade pact with Europe and the U.S. is negotiating a sweeping Trans-Pacific Partnership agreement with nearly a dozen other countries.
Froman would replace Ron Kirk, who left the position in March.
Kate Ackley contributed to this report.