California is now the world's fourth largest economy, surpassing Japan, with a GDP of $4.1 trillion. Governor Newsom attributes this to investments in people and innovation but warns that Trump's tariff measures could harm growth.

California’s economy continued to grow at a fast clip of 6% in 2024, according to data and Newsom’s office. The top three economies in the world all grew at slower rates: 5.3% in the entire U.S., 2.6% in China and 2.9% in Germany.

California has surpassed Japan to become the world’s fourth-largest economy, Gov. Gavin Newsom said, as he warned of the threat posed by President Donald Trump’s tariffs to the tech powerhouse’s fast-growing wealth.