News Summary
Business leaders from diverse sectors are gathering in Sacramento for the California Business Outlook event, focusing on trade, economic challenges, and strategies for the future. The conference addresses issues like international trade, tariffs, climate change, and retail theft, aiming to foster collaboration and innovative solutions amidst warnings of potential economic contraction due to global pressures. Keynote speakers and panel discussions will explore the implications of these challenges for businesses across the state, emphasizing the urgency of strategic planning and support for economic stability.
California – Business leaders from various sectors are convening in Sacramento for the annual California Business Outlook event, aiming to address pressing issues regarding trade, economic challenges, and future strategies. This strategic meeting is essential as experts warn of potential economic contraction in California due to tariffs and other global economic pressures.
The California Business Outlook event will feature keynote addresses and discussions on key topics including international trade, tariffs, climate change, and retail theft. The conference, organized in collaboration with several sponsor organizations such as the Sacramento Host Committee, California New Car Dealers Association (CNCDA), and the California Restaurant Association, aims to unite business leaders in finding viable solutions to the state’s economic hurdles.
Jennifer Barrera, President and CEO of CalChamber, will open the event with remarks highlighting the significance of collaboration in overcoming current economic challenges. The event will also honor twelve local chambers of commerce for their commitment to business advocacy and compliance with California employment laws, reinforcing the importance of strong local leadership in economic stability.
In a notable session, Lieutenant Governor Eleni Kounalakis will engage in a fireside chat with Caroline Beteta, President and CEO of Visit California, to discuss strategies for enhancing international trade and navigating the complexities introduced by tariffs. Another significant conversation will feature Liane Randolph, chair of the California Air Resources Board, answering questions from Barrera about environmental challenges and economic impacts.
As the lunchtime keynote speaker, Dr. Christopher Thornberg, founding partner of Beacon Economics, will provide an international economic forecast, shedding light on predictions that could influence California’s business landscape. In the afternoon, Sacramento County District Attorney Thien Ho will address the rising issue of retail theft and the relevant implications of Proposition 36, a statewide initiative that aims to increase penalties for drug and theft-related crimes.
A recent report from UCLA Anderson underscores the potential economic downturn facing California, predicting contraction as early as this year due to global tariffs and immigration raids. The statewide economy is expected to grow at a pace slower than the national average, with concerns about several quarters of negative job growth looming. An expected peak unemployment rate of 6.1% has been noted for the current year, while projections suggest an average unemployment rate of 5.8% in 2025.
The entertainment industry is witnessing notable job losses alongside cutbacks in the tech sector, exacerbating the challenges faced by the state’s labor force. Agricultural producers are particularly affected by tariffs from former President Trump, which are disrupting crop trading and increasing operational costs stemming from dependencies on imported materials.
Southern California’s trade and logistics job market is expected to suffer significantly from these tariffs, with forecasts indicating a drop of at least 10% in cargo volumes at the Port of Los Angeles, potentially leading to further declines throughout the year. Small and medium-sized businesses in California face heightened vulnerabilities due to the escalating costs associated with tariffs, making their survival increasingly difficult in the current economic climate.
Economists are highlighting the urgency of addressing California’s shrinking labor force—an element deemed critical for ensuring future economic growth and stability. Business leaders at the summit express a cohesive concern about the challenges facing the state’s economy but also stress the importance of strategic planning and mutual support in maintaining California’s economic strength during these turbulent times.
Deeper Dive: News & Info About This Topic
- Los Angeles Times: California’s Economy Will Contract as Unemployment Rises in 2025
- Wikipedia: Tariff
- KCRA: California Businesses Worried About Tariffs
- Google Search: California Economy Tariffs
- Farmonaut: California’s Economic Uncertainty
- Encyclopedia Britannica: Economics
- CalChamber: Trump Tariffs Remain Despite Legal Challenge
- Google News: California Business Outlook
- Reuters: Rebound in US Economic Growth Masks Underlying Slowing Trend
- TD Economics: CA Quarterly Economic Forecast
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COSTA MESA STAFF WRITER The COSTA MESA STAFF WRITER represents the experienced team at HERECostaMesa.com, your go-to source for actionable local news and information in Costa Mesa, Orange County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the OC Fair, Concerts in the Park, and Fish Fry. Our coverage extends to key organizations like the Costa Mesa Chamber of Commerce and Boys & Girls Clubs of Central Orange Coast, plus leading businesses in retail, fashion, and technology that power the local economy such as Vans, Experian, and South Coast Plaza. As part of the broader HERE network, including HEREAnaheim.com, HEREBeverlyHills.com, HERECoronado.com, HEREHollywood.com, HEREHuntingtonBeach.com, HERELongBeach.com, HERELosAngeles.com, HEREMissionViejo.com, HERESanDiego.com, and HERESantaAna.com, we provide comprehensive, credible insights into California's dynamic landscape.
