California is making headlines as Governor Gavin Newsom reaffirms the state’s commitment to open trade, even in the face of steep tariffs. In an engaging online interview with Nikkei Asia, Newsom explained that despite the 145% tariffs imposed by U.S. President Donald Trump, the state continues to extend an "open hand" to China and other trading partners. 🤝
Newsom emphasized that global trade isn’t a zero-sum game – when one partner wins, everyone benefits. He pointed out that California, the largest state economy in the U.S., has built strong cooperation agreements at local to national levels with China. This approach underscores how interdependent our world really is in today’s fast-paced, tech-driven market. 💡
Criticizing the impact of Trump’s policies, Newsom noted that these tariffs have hurt not only trade and tourism, but also small businesses and major corporations, resulting in billions in economic losses. In a bold move, California became the first state to legally challenge the federal tariff measures, urging other economies to avoid retaliatory tariffs on its goods. 📉
Adding a powerful economic twist, recent data shows that California’s nominal GDP in 2024 surpassed that of Japan – if it were a standalone economy, it would rank fourth in the world, behind only the U.S., China, and Germany. This fact resonates well with tech enthusiasts and young professionals across South and Southeast Asia, where innovation and interconnected supply chains are part of everyday life. 🌏
In an era where digital connections and global partnerships drive progress, California’s stance is a reminder that thriving economies are built on collaborative trade. As discussions around tariffs continue, the spirit of unity and mutual benefit may help shape a more balanced global market. Stay tuned for more updates on this evolving story!
Reference(s):
California offers 'open hand' to China amid trade war, says governor
cgtn.com
