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,

The president-elect said that he would impose the across-the-board tariffs on Day 1 and that they would stay in place until Canada, Mexico and China halted the flow of drugs and migrants.