Obama Says Richardson Will Be ‘Economic Diplomat’ (Video)

Dec. 3 (Bloomberg) — President-elect Barack Obama said Bill Richardson will be an “economic diplomat” for the U.S. as commerce secretary and a key member of a team that lays the groundwork for renewed growth.

Warning that a recovery from the recession that began last year “won’t happen overnight,” Obama said Richardson has a unique combination of national and international experience to be an “unyielding advocate” for American companies and workers at home and abroad.

“Bill has seen from just about every angle what makes our economy work and what keeps it from working better,” Obama said at a news conference today in Chicago at which he formally announced the New Mexico governor as his choice to lead the Commerce Department.

Richardson, 61, is one of the highest-profile Latinos to hold elective office in the U.S. Before winning his race for governor of New Mexico in 2002 and gaining a second term in 2006, he served in two Cabinet positions in President Bill Clinton’s administration and eight terms in the U.S. House.

He ended his own bid for the Democratic presidential nomination in January and later endorsed Obama, calling him a “once-in-a-lifetime leader” who can unite the country. That move was a rebuke to Hillary Clinton, who Obama has picked for secretary of state, and her husband publicly lashed out at Richardson at the time.

Past Competitors

Richardson downplayed any suggestions that hard feelings lingered from the campaign.

“There are some who speak of a team of rivals,” he said. “But I’ve never seen it that way. Past competitors, yes.”

Richardson said that he would use his position to promote trade. “Boosting commerce between states and nations is not just a path to solvency and growth; it’s the only path,” he said.

He vowed to make the Commerce Department an integral part of Obama’s financial recovery plan. The “catchphrases of your economic plan” Richardson told Obama, are “investment, public/private partnerships, green jobs, technology, broadband, climate change and research.”

“That is the Department of Commerce,” he said.

Richardson would head a Cabinet agency with responsibilities that include compiling economic data, monitoring the weather and adjudicating trade complaints.

Trade Barriers

Companies such as General Electric Co., the world’s biggest maker of power-generation equipment, said they will be looking to Richardson for help reducing hurdles and tariffs to selling their goods overseas.

Richardson is “very smart on things like free-trade agreements,” said Peter O’Toole, a GE spokesman and former speechwriter for Richardson. “Hopefully we can work with Governor and future Secretary Richardson on making sure that free and fair trade is a two-way street.” …

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