President-elect Trump's plan to increase tariffs on goods from China and impose them on products from Mexico and Canada would drive inflation up by nearly 1%, Goldman Sachs estimates.

The proposed tariffs on China, Canada and Mexico could raise prices for United States consumers, according to Goldman.

Goldman Sachs has warned that Trump’s tariffs on Canadian and Mexican crude oil could hurt US consumers significantly.

Goldman Sachs economists released an analysis that projected that President-elect Trump's tax cuts and deregulation will support growth, while broader tariffs could dampen the impact.