Goldman Sachs analysis suggests that US President-elect Trump's proposal to impose a 25% tariff on goods from Canada and Mexico is expected to generate nearly $300 billion in revenue annually, but could cause core PCE inflation to rise by 0.9%. Goldman Sachs Chief Economist Jan Hatzius stated that this tariff would significantly push up consumer prices. Although the tariff proposal may be Trump's negotiation strategy and its implementation is still uncertain, market expectations for a Fed rate cut have begun to weaken.

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