Cnn
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California has exceeded Japan to become the world’s fourth economy, said Governor Gavin Newsom, while he has warned of the threat posed by President Donald Trump’s prices with rapidly growing technological power riches.
The nominal Golden State gross domestic product (GDP) reached $ 4.1 billions of dollars in 2024, according to preliminary data from the US economic analysis, exceeding nominal GDP of $ 4.02 billions of dollars in Japan during the same period as that recorded by the International Monetary Fund.
This means that only the United States, China and Germany have greater savings than California, which exceeded three countries with a growth of 6% last year, according to the press release.
“California not only follows the rhythm of the world – we are giving the pace,” Newsom said in a press release on Wednesday. “Our economy is booming because we invest in people, prioritize sustainability and believe in the power of innovation.”
But Newsom also warned that state economic prowess are threatened by “the reckless pricing policies of the current federal administration”.
“California’s economy feeds the nation and it must be protected,” he said.
California, the most populous state in America with some 40 million people, represented 14% of the country’s GDP in 2024, according to government data, drawn by Silicon Valley and its real estate and financial sectors.
Last week, Newsom continued Trump about his use of emergency powers to unilaterally adopt world prices, which, according to the governor, injured Californian families and businesses.
The trial, submitted to the Federal Court on April 16, argues that Trump does not have the power to promulgate prices against Mexico, China and Canada, or a reference rate of 10% on imports from the rest of the world.
These prices said Newsom in a press release announcing the prosecution, created “immediate and irreparable damage to California, the greatest economy, the country’s manufacture and agricultural state” because they “disturbed supply chains, swollen costs” and “billions of damages” in the state.
The trial maintains that the invocation by Trump of the international law on economic emergency powers to promulgate prices was “illegal and unprecedented” and that such a demanding action requires the approval of the congress.
Thanks to the IEEPA, the Congress granted in 1977 the President General to impose sanctions on countries, export controls, regulate financial transactions and freeze foreign assets within the framework of the National Emergency Declaration, but it obliges the executive to consult and report to the Congress during the exercise of these powers.
California is engaged in nearly $ 675 billion in two -way trade in 2024 and has Mexico, Canada and China as its three main business partners, depending on the state. More than 40% of Californian imports came from these countries, representing $ 203 billion more than $ 491 billion in imports in total last year.
Twelve other states continued the Trump administration on Wednesday for “illegally imposing” tax increases to the Americans through prices in a trial that the White House called a “witch hunt”.
