California passes Japan as fourth largest economy

[BumRushDaShow]

Source: BBC

10 hours ago


California's economy has overtaken that of the country of Japan, making the US state the fourth largest global economic force. Governor Gavin Newsom touted new data from the International Monetary Fund (IMF) and the US Bureau of Economic Analysis showing California's growth. The data shows California's gross domestic product (GDP) hit $4.10 trillion (£3.08 trillion) in 2024, surpassing Japan, which was marked at $4.01 trillion.

The state now only trails Germany, China and the US as a whole. "California isn't just keeping pace with the world - we're setting the pace," Newsom said. The new figures come as Newsom has spoken out against President Donald Trump's tariffs and voiced concern about the future of the state's economy. California has the largest share of manufacturing and agricultural production in the US. It is also home to leading technological innovation, the centre of the world's entertainment industry and the country's two largest seaports.

Newsom, a prominent Democrat and possible presidential candidate in 2028, filed a lawsuit challenging Trump's authority to impose the levies, which have caused disruption to global markets and trade. Trump has enacted 10% levies on almost all countries importing to the US, after announcing a 90-day pause on higher tariffs. Another 25% tariff was imposed on Mexico and Canada. The levies on China, however, have led to an all-out trade war with the world's second largest economy.

Trump imposed import taxes of up to 145% on Chinese goods coming into the US and China hit back with a 125% tax on American products. His administration said last week that when the new tariffs were added on to existing ones, the levies on some Chinese goods could reach 245%.

Read more: https://www.bbc.com/news/articles/cly80zlk1lyo

[dalton99a]

1. And has as much political clout as Wyoming

[IrishBubbaLiberal]

2. Liberal, Progressive, Multi-Cultural Mecca

😎

?si=B2oPT69SqjPK597R

[BumRushDaShow]

5. I blame you for this

(my mind went to "California Dreamin'" and then to "California Soul", where I saw there were apparently a bunch of covers that came out but the one I remember that I liked was the 5th Dimension one )

[kimbutgar]

3. The headline on SF Chronicle today says State's businesses hit hard by tariffs

The head of the SF Chamber of commerce says “ This is Gogin to be worse than during the COVID -19 pandemic.

I hope we can find a way around the damage these bogus tariff talking points are causing. That said I heard Our Governor is talking directly and negotiating with China directly and bypass the orange Hitler.

[zorbasd]

4. Yes, bypass this Fascist Regime with CA having

there own trading agreement with countries, bypassing the lawlessness of the "state rights" crowd in control of the federal government now. CA should just ignore federal courts concerning federal control of trade, and go at it alone. Let the fascists scream and take it to court!!!

[BumRushDaShow]

6. Most of the imports from China (and much of the rest of Asia) come into California

either by ship to those big ports or by air, and then get trucked elsewhere.