Gavin Newsom boasts California’s fourth largest economy in the world today
California’s Republican governor candidate Steve Hilton explains why he is running for the office and details his platform in “Kudlow.”
According to international and domestic trackers, California has overtaken Japan to become the fourth largest economy in the world.
Gov. Gavin Newsom New data from the International Monetary Fund (IMF) and new data from the U.S. Economic Analysis Agency (BEA) have discovered that California’s GDP is currently exceeding Japan, touting the find in a statement Wednesday.
“California is not just in keeping pace with the world. We are at a pace. Our economy is thriving because we invest in people, prioritize sustainability and believe in the power of innovation,” Newsom said in a statement.
The IMF and BEA have a California nominal GDP of $4.1 trillion in newly released data, compared to $4.01 trillion in Japan.
Gov. Gavin Newsom touted California on Wednesday as the fourth largest economy in the world. (Sarah Reingewirtz/Medianews Group/Los Angeles Daily News Getty Images/Getty Images)
The data also shows that it is in California and its growth rate exceeds the US and other countries around the world. The state’s nominal GDP grew at a rate of 6% in 2024, surpassing the US rate of 5.3%, China’s 2.6% and Germany’s 2.9% rate.
Newsom’s statement assaulted the president Donald Trump Regarding his tariff policy, he says Newsom is threatening to derail California’s growth.
“We celebrate this success and recognize that our progress is threatened Reckless Customs Policy of the current federal government. California’s economy must empower and protect the nation,” he added.
California Gov. Gavin Newsom slapped President Donald Trump’s tariff policies in a statement Wednesday. (Demetrius Freeman / The Washington Post byotty Images / Getty Images)
Newsom’s Office argued in a statement that Trump’s tariffs “had wrecked the economy, volatile stock and bond markets, causing hundreds of billions of dollars to lose, and putting consumers and businesses at higher costs.”
“These harms will only continue to increase as President Trump’s tariffs are projected to shrink the US economy by $100 billion a year,” the Newsom office added.
President Donald Trump imposed tariffs that were wiped out on countries around the world earlier this month.
The Newsom administration was sued last week to block Trump’s tariffs, with New York heading a coalition of other states in a similar lawsuit.
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The states suing in New York include Arizona, Colorado, Connecticut, Delaware, Illinois, Maine, Minnesota, Nevada, New Mexico, Oregon and Vermont.