Goldman Sachs economists estimate that if the latest trade tariffs announced by U.S. President Donald Trump after assuming office in his second term are sustained, they could take a significant chunk out of Corporate America's bottom line.

Stocks face the prospect of a global trade war following a sweeping series of tariffs put in place by President Donald Trump.

Commodity markets are pricing in elevated odds that US President Donald Trump’s sanctions against Canadian imports will include raw materials like oil, according to Goldman Sachs Group Inc., which warned of higher gasoline prices in the Midwest if penalties cover crude flows.