California Gov. Gavin Newsom announced his updated budget plan Wednesday, in which he revealed that California is facing a $12 billion deficit. He largely put the onus on President Donald Trump's tariffs,

On the eve of his budget presentation, Gov. Gavin Newsom sought to blame President Trump's tariff policy for reducing California state revenues.

California is projecting a $16 billion loss in state revenue tied to President Donald Trump’s tariffs, according to a memo from Gov. Gavin Newsom’s office obtained ahead of his revised budget release Wednesday.