Why Washington’s policy quakes can’t disturb California’s economy beyond a point
There is a paradox at the heart of the US economy. As the federal government imposes sweeping tariffs, signals hostility to multilateral trade and unnerves long-term investors with erratic policymaking, one state has emerged as the most reliable US address for global capital: California, the world’s fourth-largest economy and America’s second-largest exporting state with $188 billion in annual goods exports. In 2024, California’s GDP grew by 6%, outpacing the US, China and Germany.
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