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    You are at:Home»Finance»Insurance»Newsom Says California to Seek Tariff Exemptions From Allies
    Insurance

    Newsom Says California to Seek Tariff Exemptions From Allies

    newsworldaiBy newsworldaiApril 5, 2025No Comments3 Mins Read0 Views
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    Newsom Says California to Seek Tariff Exemptions From Allies
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    Government Gwen Newsome said he wants to exempt retaliation for products from California and wants to talk to global allies on new trade relations, and cast the state as a buffer against the end of Donald Trump’s sweeping project.

    https://www.tiqets.com/en/new-york-new-york-hotel-casino-tickets-l235895/?partner=travelpayouts.com&tq_campaign=bc55a31e7f434e4ab93246c49-615741

    In a post on the X on Friday, Newsom said he had instructed his administration to assure the allies that “California is a stable trading partner,” even Trump emphasized the board’s 10 % tariff on imports and steep taxes for some countries.

    “Donald Trump’s prices do not represent all Americans,” said Newsom. “For our business partners around the world – California is here and ready to talk.”

    For our business partners around the world – California is here and ready to talk.

    We will not sit useless during Trump’s tariff war.

    We make 14 % of USGDP. We are the world’s 5th largest economy.

    We are not afraid to use our market power to fight… pic.twitter.com/ytfbcwww1so

    – Gwen Newsom (@Gwen Newsome) April 4, 2025

    When contacted for the comments, the Newsom office refused to provide details about access to countries or policies in pursuit of their administration. He also did not provide additional details on how California would visit the constitutional boundaries on the states that discuss its trade terms. Although newsome cannot bound international agreements with foreign countries, the Governor can achieve informal partnerships and export promotion efforts such as state -led trade missions.

    California accounts for about 14 percent of the country’s total domestic products and is listed as the world’s fifth largest economy. The economic weight – which is associated with the state’s 40 million population – takes advantage of California globally.

    But it also poses more threats to California to global trade barriers, especially when US trade partners begin to respond widely. On Friday, China announced that it would implement 34 % tariffs on all US imports, which began on April 10, which would showcase Trump’s proposed “mutual” tax rate. A day ago, Canada said it would tax US auto imports in response to a move to slap new rates on foreign -made cars.

    The state is an important player in agriculture and US manufacturing, including semiconductor, computer equipment and vehicles.

    California exported $ 24 billion to agricultural goods in 2022, about 13 % of the total US farm exports. Almonds increased the list by $ 77 billion, followed by dairy products, pistachios and alcohol. Top buyers include Canada, the European Union, China and Hong Kong.

    In the X -post, Newsome linked a report from Fox News, citing a senior administration official, which states that forest fires around the state of Los Angeles and the possibility of trade barriers in the California Baja Border region are concerned about January.

    Most of the manufacturing in this area depends on the cross -border supply chain, where components often travel backward between factories several times before becoming a manufactured product.

    Copyright 2025 Bloomberg.

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