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.

Traders are shocked that a president who said he would place tariffs on countries with whom the U.S. has notable trade deficits has put tariffs on some of those countries. After Canada, Mexico and China,