Trump’s threatened tariffs on Canada and Mexico may boost inflation in the U.S., but there’s still “huge uncertainty” around macroeconomic forecasts, according to Deutsche Bank Research.

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.

Even as Mexico President Claudia Sheinbaum attempts to quell concerns over Donald Trump’s threat of 25% tariffs, economists are looking glumly at the trouble ahead should the US president-elect actually follow through.