The MeidasTouch Podcast: Governor Gavin Newsom on Trump’s 100 Days of Failure

Release Date: April 24, 2025

In the latest episode of The MeidasTouch Podcast, hosts Ben, Brett, and Jordy Meiselas engage in a comprehensive and insightful conversation with California Governor Gavin Newsom. The discussion delves into the ramifications of former President Donald Trump's economic policies, particularly focusing on tariffs, their impact on California’s economy, and the broader implications for American democracy.

Economic Impact of Trump’s Tariffs

Governor Newsom opens the dialogue by reflecting on the immediate and profound effects of Donald Trump's tariff announcements. He states, “[00:17]... it’s 10x worse than we even feared,” highlighting the severe degradation of global trust and economic stability caused by the unilateral tariffs. California, being the largest state economy in the U.S.—with an IMF-ranked position as the fourth largest global economy—is disproportionately affected. Newsom emphasizes, “[01:09]... no state has been more impacted by the tariffs economically,” underscoring California's pivotal role in the national and international economic landscape.

Lawsuit Against the Trump Administration

A significant portion of the episode centers on California’s legal battle against the Trump administration. Governor Newsom explains, “[01:12]... he has no unilateral authority to impose these tariffs,” pointing out the legal overreach and lack of proper authority under the 1977 construct. He notes the bipartisan support for the lawsuit, mentioning, “[01:12]... the Koch brothers backed a lawsuit saying exactly the same thing.” The governor further highlights the collective action taken by 12 other states joining the lawsuit, reinforcing the unified stance against the administration's policies.

Negotiations and Relations with China

Discussing international relations, particularly with China, Newsom provides an insider’s perspective on the strained negotiations. He humorously references a meme of Xi Jinping reading "The Art of the Deal," illustrating the disjointed nature of Trump’s negotiation tactics. “[05:13]... Trump negotiating against himself,” he quips, emphasizing the ineffective and self-sabotaging strategies employed. The governor details the tangible impacts on California’s infrastructure, noting the decline in cargo through the Port of Long Beach, a critical gateway for 40% of U.S. goods. He personalizes the issue by stating, “[05:13]... 80% of those toys... come from China,” highlighting the direct effect on consumers and businesses alike.

California’s Economic Dominance

Governor Newsom proudly announces California’s status as the fourth largest economy globally, surpassing Japan. “[07:33]... $4.1 trillion a year economic output,” he declares, emphasizing the state’s substantial contribution to the U.S. GDP and its role as a donor state, having contributed $83.1 billion more to the federal government than it received. He contrasts this with Texas, illustrating California’s fiscal responsibility and economic health. Newsom dismantles myths about red and blue states, asserting, “[07:33]... murder, it is a mythology,” and reinforcing the factual economic strength of blue states like California.

The Value of Social Programs

A key theme in the discussion is the importance of investing in social programs and education. Newsom articulates, “[09:19]... we have a conveyor belt for talent that's second to none,” lauding California’s robust university systems and workforce development initiatives. He argues that such investments foster innovation and entrepreneurialism, critical drivers of economic growth. “[09:19]... 18% of the world's research and development... pushing out the boundaries of discovery,” he highlights California’s leading role in global research and development, which underpins its economic and technological advancements.

Protecting the American Dream

Concluding the interview, Governor Newsom delivers a passionate message about safeguarding the American Dream amidst political and economic turmoil. “[12:10]... don’t give in to the cynicism, don’t give in to the fear,” he urges, encouraging Americans to stay vigilant and proactive. He emphasizes personal and collective agency in shaping the future, stating, “[12:10]... the future is not something to experience, it’s something to manifest.” Newsom inspires listeners by highlighting the resilience and determination of the American people, asserting confidence in their ability to overcome challenges and restore democratic integrity.

Key Takeaways:

• Severe Economic Consequences: Trump's tariffs have had a more detrimental impact than anticipated, severely affecting California’s economy and eroding global trust.

• Unified Legal Resistance: California leads a bipartisan effort in suing the Trump administration, supported by other states and even conservative figures like the Koch brothers.

• Strained International Relations: Ineffective negotiation tactics with China have led to significant disruptions in trade, particularly affecting California’s ports and manufacturing sectors.

• Economic Powerhouse: California’s substantial economic output and contribution to the federal government underscore its vital role in the national and global economy.

• Investment in People: Strong investment in education, research, and social programs is pivotal for fostering innovation, economic growth, and maintaining the American Dream.

• Call to Action: Governor Newsom calls for sustained vigilance, resilience, and proactive engagement from the American populace to counteract political and economic challenges.

This episode of The MeidasTouch Podcast offers a thorough examination of the intersection between political actions and economic outcomes, providing listeners with a nuanced understanding of current events and their broader implications. Governor Newsom’s insights paint a vivid picture of the stakes involved and the paths forward for both California and the United States as a whole.