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.

Tariffs could not only increase the cost of transporting goods across borders, they could also disrupt supply chains and crimp business confidence.

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,