The California economy is overwhelmed by the country of Japan, which makes the US state the fourth largest global economic force.
Governor Gavin News is looked at the new data of the International Monetary Fund (IMF) and the US Bureau for Economic Analysis, which shows that California growth is.
The data show the California gross domestic product (GDP) hit $ 4.10 Trillion (£ 3.08 million) in 2024. years, surpassing Japan, which was marked on a trillion $ 4.01. The state now is looking for only Germany, China and the United States as a whole.
“California not only keeps pace with the world – we set the pace,” the journalist said.
New numbers come as the journalist uttered the tariffs of President Donald Trump and expressed concern about the future of the state economy.
California has the largest share of production and agricultural production in the United States. It is also home to leading technological innovations, the center of the world’s entertainment industry and the two largest seaports in the country.
Failure, prominent Democrat and the possible presidential candidate in 2028. Year, he filed a lawsuit that causes Trump authority to impose names, which caused disorders in global markets and trade.
Trump brought 10% of the imposition on almost all countries imported to the USA, after announcing a 90-day break at higher tariffs.
Another 25% of tariffs are imposed on Mexico and Canada. Inventions in China, however, have led to the alekon trade war with the second largest world.
Trump imposed imported taxes up to 145% on Chinese goods entering the United States and China hit 125% tax on American products.
His administration was said last week that, when new tariffs were added to the existing ones, the names of the Chinese goods can reach 245%.
News noticed his concerns about the future of the state economy.
“As we celebrate this success, we acknowledge that our progress is compromised by reckless tariff policies of the current federal government,” he said. “California economy is launching a nation, and must be protected.”
Trump claimed that his trade war straightens only the playground after taxes are in the United States.
Tariffs are efforts to encourage factories and jobs to return to the United States. It is one main pillar of its economic agenda, such as interest rate reduction, aimed at reducing the cost of borrowing to Americans.
The New data It shows the California GDP behind the US at $ 29.18 million, China to $ 18.74 million and Germany to $ 4.65. It also shows that California was the fastest growth among those countries.
The Japanese economy under pressure is due to its and aging population, which means that its labor force has reduced and balloon social protection costs.
This week IMF sent its forecast for the economic growth for Japan and projected that the Central Bank would increase the interest rates slower than was previously expected due to the impact of larger tariffs.
“The effect of the tariff announced 2. April and associated uncertainty that can be compensated by the expected private consumption with the growth of the Inflation Pay increase in the available household income,” said its world economic statement.
2025-04-25 03:01:00
