California Governor Gavin Newsom announced on the social media platform "X" on April 24 that California has now surpassed Japan to become the world's fourth-largest economy in terms of nominal GDP.
According to the data shared in Newsom's post, California ranks just behind the US, China, and Germany in the 2024 global nominal GDP rankings. Previously, in 2023, California's nominal GDP was approximately US$3.9 trillion, making it the fifth-largest economy globally at the time. As the leading state for economy and manufacturing in the US, California's economy continues to grow rapidly.
Governor Newsom has consistently advocated for expanding trade relations with China, emphasizing that "the more successful China is, the more successful the world will be." This stance starkly contrasts with US President Trump's economic policies. In 2024, California's total import-export trade reached approximately US$675 billion, with Mexico, Canada, and China being the state's top three trading partners. Together, these countries accounted for over one-third of California's US$183 billion in export goods that year.
In response to Trump's controversial "reciprocal tariffs" policy, Newsom instructed California's government to build new strategic relationships with international trade partners, stating that "California is not Washington," and that federal tariff policies "do not represent the will of the American people."
The trade war initiated by Trump imposed significant stress on California's agriculture, shipping, and e-commerce industries, disrupting supply chains, increasing costs for businesses and residents, and causing billions of dollars in economic losses. On April 16, Newsom announced his intent to file a lawsuit against Trump over tariff-related issues, marking the first time a US state has legally challenged Trump's tariff policies.
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