California Governor Gavin Newsom has issued a stark warning, declaring a 'code red' economic emergency amid the fallout from high tariffs. In a recent ad aired on a conservative channel, he reminded everyone that California is not only the fourth-largest economy in the world but a hub of innovation, manufacturing, and agriculture.
'California built its success by reducing trade barriers and delivering for American consumers,' Newsom said. He stressed that policies limiting the flow of essential goods have already begun to take their toll—delaying everything from school backpacks today to Christmas toys in the coming months.
The governor pointed to hard numbers: the Port of Oakland faced a 20% decline in cargo volumes, while the ports in Long Beach and Los Angeles saw drops of 35%, with cargo bookings falling by an alarming 60%. These figures highlight the long-lasting effects of unpredictable tariff decisions.
In a follow-up interview, Newsom warned that even an immediate reversal of these policies would not instantly restore economic stability, as overseas decisions and purchase orders take weeks or even months to affect local shelves. His call for predictable, stable policies reflects the urgent need for certainty among small business owners and industries reliant on smooth trade.
This unfolding situation serves as a crucial reminder of how global trade policies can hit home, sparking widespread concern across economic sectors. Stay informed and vigilant as these developments continue to shape the market landscape. ⚠️🚢
Reference(s):
cgtn.com
