California Governor: The U.S. President is Destroying the American Economy

格隆汇2026/02/23 07:32

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Gelonghui, February 23rd｜According to CCTV, in an exclusive interview video released on February 22nd local time, California Governor Newsom stated that US President Trump's tariff policy is nothing but a farce. After the US Supreme Court ruled that the US government's large-scale tariff policy was illegal, the Trump administration should refund the tariffs already collected to the American people. Newsom said that in the last quarter, the US GDP growth rate was only 1.4%, the inflation rate rebounded to 3%, and employment data hit the worst performance since 2013, while Trump and US Treasury Secretary Bessent are "joining forces to destroy the US economy."

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According to data from the US Department of the Treasury, in the 12 months ending July this year, overseas investors made net purchases of US stocks totaling $942 billion, marking the highest rolling 12-month total since records began in 1985. The net purchases in the second quarter alone reached $426 billion, setting a new single-quarter record. Meanwhile, overseas demand for US Treasuries has noticeably cooled, with purchase volumes falling significantly. As a result, the US is facing higher costs in government debt financing.

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