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.

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

While the announcement is almost certainly bluster to bring attention to illegal immigration and fentanyl smuggling, there are several reasons why it is so risky.