INSUBCONTINENT EXCLUSIVE:
California Governor Gavin Newsom has actually stated that his state stays open to trade with China, regardless of the 145 percent tariffs
imposed by the administration of U.S
President Donald Trump.The guv described California, the biggest state economy in the U.S., as a stable partner that has extended an open
hand to China and other trading partners
His comments came throughout an online interview with Nikkei Asia, a major English-language service newspaper based in Japan.Newsom
emphasized that global trade is not a zero-sum video game and that trading partners are fundamentally interdependent.Speaking on ties with
China, he noted that California and China have actually signed a series of cooperation memorandums at the provincial/state, city and county
He likewise broadened the states engagement with China to the nationwide level during his visit to the nation in 2023
Newsom said he has actually been outspoken in slamming the Trump administrations trade policy, arguing that California has actually been
disproportionately impacted compared to other U.S
states.The state not only has comprehensive trade ties with Asia but also hosts tech companies in Silicon Valley with deeply integrated
supply chains and markets in the area, he said.Trumps trade policy, he included, has actually had a severe impact not just on trade but
likewise on tourism, hurting both small companies and large corporations, and inflicting enormous damage to U.S
credibility.The direct and indirect economic losses for California due to the fact that of Trumps trade policy total up to billions of
dollars, Newsom said.Following Trumps April 2 announcement of so-called mutual tariffs on all U.S
trading partners, Newsom prompted other economies not to impose vindictive tariffs on products from California.The Golden State also ended
up being the very first in the U.S
to sue the Trump administration over the tariff issue
California submitted a claim on April 16 versus the federal government, challenging its use of emergency powers to impose extensive tariffs
State officials argued these tariffs threaten Californias economy.According to a policy analysis by research study firm Trade Partnership
Worldwide, California could pay over $170 billion in import taxes in 2025 under the new tariff structure.California remains the most
financially effective state in the U.S
Citing information from the International Monetary Fund and the U.S
Bureau of Economic Analysis, Newsom announced on April 23 that Californias small GDP in 2024 had exceeded that of Japan
If determined as a standalone economy, it would rank fourth in the world, behind only the U.S., China and Germany.
