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.

CORRECTION: An earlier version of this report misstated the day President-elect Donald Trump threatened tariffs on Mexico, Canada and China.  President-elect Donald Trump has already begun to captivate financial markets with his unorthodox negotiating style,

Donald Trump has announced 25% tariffs on Mexico and Canada. Here is how they would work and what such tariffs might mean.