2 weeks Ago By The Telegraph
California’s economy has overtaken Japan’s to become the fourth largest in the world, new data show. The state’s gross domestic product (GDP) hit $4.10 trillion (£3.
0 trillion) last year, surpassing Japan, which stands at $4.01 trillion, according to new data from the IMF. It means California, known as the Golden State, now only trails Germany, China and the US in the list of the world’s largest economies.
Gavin Newsom, California’s governor, said the figures showed the state was “setting the pace” in world economic growth. “Our growth-rate last year outpaced the US, China and Germany. Our state population is increasing,” Mr Newsom posted on X.
“California isn’t just keeping pace with the world...
we’re setting the pace.” The new figures come as Mr Newsom tries to position himself as a future Democrat nominee for the presidency . The liberal California governor recently launched a new podcast , This is Gavin Newsom, where he engages with Right-wing and Maga activists, occasionally breaking ranks with his fellow Democrats.
His first guest, Charlie Kirk, a 31-year-old Trump campaigner, had accused Democrats of being out of touch with Americans on transgender participation in sports. Mr Newsom responded: “I think it’s an issue of fairness. I completely agree with you on that.
It is an issue of fairness , it’s deeply unfair. We’ve got to own that. We’ve got to acknowledge it.
” The 57-year-old has also positioned himself as a direct opponent to Donald Trump , the US president. Mr Newsom recently filed a lawsuit challenging the Mr Trump’s authority to impose tariffs and called on world leaders to negotiate separate deals with California. The president has implemented 10 per cent tariffs on nearly every country importing goods to the US, which was scaled back after his initial “Liberation Day” levies.
The California governor welcomed the new GDP figure but warned the development could be undone by the president’s global tariff war. “While we celebrate this success, we recognise that our progress is threatened by the reckless tariff policies of the current federal administration,” Mr Newsom said. “California’s economy powers the nation, and it must be protected.
” Credit: X/@GavinNewsom The IMF cut its economic growth forecast for Japan due to the impact of the higher tariffs imposed by the US. “The effect of tariffs announced on April 2 and associated uncertainty offset the expected strengthening of private consumption with above-inflation wage growth boosting household disposable income,” the IMF’s World Economic Outlook report said. Overall data show California’s GDP stands behind the US at $29.
18 trillion, China at $18.74 trillion and Germany at $4.65 trillion.
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