California Overtakes Japan as World's 4th Largest Economy, But Trump Tariffs Pose Threat
2025-04-25
California Governor Gavin Newsom announced that California's GDP reached $4.1 trillion in 2024, surpassing Japan to become the world's fourth-largest economy. However, he warned that President Trump's tariff policies threaten the tech powerhouse's rapid growth. California's economy outpaced the US, China, and Germany, growing 6% last year. Newsom credits California's prosperity to investments in its people, a focus on sustainability, and a belief in innovation. But he expressed concern over the Trump administration's tariffs, arguing they harm Californian families and businesses. A lawsuit has been filed, accusing Trump of abusing emergency powers to illegally impose tariffs.