Highlighting California–Asia Trade at the State Assembly

At the August 20, 2025, informational hearing of the Assembly Select Committee on Asia–California Trade and Investment, WTCLA’s President & CEO, Stephen Cheung, joined other distinguished panelists to provide an authoritative overview of California–Asia trade, tourism, and investment.

The hearing began with remarks from Assembly Chair Jessica Caloza, Lieutenant Governor Eleni Kounalakis, and the Deputy Consul General of Japan in San Francisco, highlighting the special partnership between California and Asia.
LAEDC & WTCLA President & CEO Stephen Cheung joined the first panel discussion to underscore the scale and diversity of Asia–California economic ties. Fellow panelists included Rodney Fong of the San Francisco Chamber of Commerce and Caroline Beteta of Visit California. Additional insights came from experts discussing the impact of federal tariffs, including Glen Fukushima from the Center for American Progress and UC San Diego’s Kyle Handley.

The hearing closed with forward-looking contributions from Chris Cate of the San Diego Regional Chamber and Susie Pryor of the Central California Small Business Development Center, while Chair Caloza signaled a potential follow-up hearing and legislation to bolster California’s trade and investment with Asia.

Trade with Asia to Los Angeles and California
We in Los Angeles know that thriving trade and investment ties with Asia are vital to regional prosperity. In 2024, California exported a staggering $183.34 billion globally, with $71.893 billion directed to Asian markets alone. Of the 24 largest sources of foreign investment in California, 6 are in Asia. Of this group, Asian-owned enterprises support over 216,000 jobs in the golden state. These figures aren’t just stats – they represent real jobs and real people, community impact, and regional stability. LAEDC & WTCLA recognize that California’s role as a gateway for Asian trade enhances its strategic importance, not just domestically, but as a global economic powerhouse.

Championing LA on the Global Stage
The World Trade Center Los Angeles embodies the region’s commitment to international business development. We do this through:

• Attracting foreign direct investment, while facilitating global companies to plant roots in LA County.
• Supporting international trade missions, building bridges between LA and Asia that go beyond policy, into real projects and new economic relationships.
• Serving as a resource and connector, guiding local businesses in navigating tariffs, regulatory shifts, and global competition—especially critical during periods of uncertainty.

WTCLA’s leadership ensures Los Angeles is consistently seen by international partners as a dynamic, accessible, and forward-looking hub for trade and investment.

California and LA are “Open for Business”
Trade hearings like this are not just informational, they reinforce a message:
California, and Los Angeles as the beating heart of its economy, is ready and eager for global engagement.

By actively participating in policy discussions, shining a spotlight on data-driven trade opportunities, and maintaining strong international networks, WTCLA is working to ensure that the region’s unique value proposition – our market size, innovation ecosystem, and diverse workforce and industry clusters – is prominently communicated. Our international partners should feel welcomed, well-informed, and confident in LA as a destination for growth. And California continues to strengthen its standing on the global stage as a hub for trade, tech, tourism, and more.

LAEDC and WTCLA welcome this select committee and Chair Caloza’s focus on California–Asia trade. This hearing provided invaluable insights into current dynamics – including trade volumes, tariff impacts, and tourism trends – while highlighting the importance of Asia’s role in California’s international economic outlook.