California overtakes Japan and becomes the fourth largest economy in the world

California overtakes Japan and becomes the fourth largest economy in the world

California has overtaken Japan and has become the fourth largest economy in the world with a nominal gross domestic product (GDP) of $ 4.1 trillion in 2024, as governor Gavin Newsom reported. At the same time, he pointed out the threat that the tariffs of President Donald Trump represent for the rapidly growing prosperity of the technology location.

growth figures speak a clear language

The preliminary data of the US Bureau of Economic Analysis show that California's nominal GDP exceeded that of Japan, which was $ 4.02 trillion in the same period, the Data from the International Monetary Fund .

Only the United States, China and Germany have larger economies than California, which last year recorded impressive growth of 6 %.

investments in innovation and sustainability

"California not only keeps up with the world - we set the yardstick," emphasized Newsom in a press release on Wednesday. "Our economy thrives because we invest in people, prioritize sustainability and believe in the power of innovation."

threat from customs policy

However, newsoma also warned that the economic strength of the state is endangered by "the ruthless customs policy of the current federal government". "California's economy drives the nation and it has to be protected," he said.

Litigation against Trump

California, the most populous state of the United States with around 40 million inhabitants, made 14 % of national GDP in 2024, which was strongly powered by Silicon Valley, the real estate and banking sector. Last week, Newsoma submitted a lawsuit against Trump, because of its one -sided survey of far -reaching global tariffs, which in his opinion damaged California families and companies.

The Legal , which was submitted on April 16 in front of a federal court, argues that Trump did not have the authority against Mexico, China and Canada or a base customs of 10 % to introduce imports from the rest of the world.

consequences of the tariffs

newsom divided in a press release "Immediate and irreparable damage to California, the largest economic and agricultural state of the nation", because they "disrupted supply chains, increased costs and caused billions of dollars of damage".

scope of trade relationships

In 2024, California carried out a trade of almost $ 675 billion and is one of his three largest trading partners. Over 40 % of California imports came from these countries, which makes up $ 203 billion of more than $ 491 billion in the past year.

further legal steps

Twelve other states also submitted a lawsuit against the Trump-Administration Tax increases by tariffs - a step that the White House referred to as "witch hunt".