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.

U.S. President-elect Donald Trump's pledge to impose tariffs on Canada would drive up fuel prices for Americans as it would upend decades-old oil trade from its top crude supplier, analysts said on Wednesday.