Fri, 25 Apr 2025

Fri, 25 Apr 2025 California passes Japan as fourth largest economy

The US state expresses worries that President Donald Trump's tariffs could stunt future growth.

* California's economy has surpassed Japan's, making it the 4th largest global economic force.
* According to the IMF and US Bureau of Economic Analysis, California's GDP reached $4.10 trillion in 2024.
* This puts California behind only Germany, China, and the United States as a whole.
* Governor Gavin Newsom hailed the news, saying "California isn't just keeping pace with the world - we're setting the pace."
* Newsom has been critical of President Trump's tariffs, which he believes are threatening the state's economy.
* The data shows that California is home to significant manufacturing and agricultural production, technological innovation, and entertainment industries.
* Newsom filed a lawsuit challenging Trump's authority to impose tariffs, citing concerns about their impact on global markets and trade.
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