Gavin Newsom on Lawsuit Against Trump Tariffs and CEO Outreach

Outreach to CEOs

• 📞 Governor Newsom initiated contact with major CEOs using a burner phone and a handwritten note, offering his personal cell number.
• 💡 The initiative, part of the 'jobs first plan,' aimed to support large employers in California, similar to efforts for small businesses.
• ❓ Many CEOs initially suspected the outreach was fraudulent due to its unconventional nature.

CEO Concerns on Tariffs

• 🗣️ Tariffs and economic uncertainty were consistently raised by every CEO Newsom spoke with.
• 📉 Newsom described the tariffs as one of the most self-destructive actions in modern American history.
• 📊 He cited figures suggesting tariffs could increase costs by as much as 22-27%, comparable to factors that exacerbated the Great Depression.

California's Stake in Tariffs

• ⚠️ Newsom emphasized that no state has more to lose than California regarding the ongoing tariff issues.
• 🇨🇳 He referenced his direct experience with China, including meetings with President Xi, to underscore the seriousness of the situation.
• 🏛️ Newsom confirmed that the White House was given a heads-up about the lawsuit against the Trump administration's tariffs.