Goldman Sachs predicts baseline US tariffs will rise to 15% under Trump, slowing GDP growth by 1% in 2025, 0.4% in 2026, and 0.3% in 2027. The bank expects 50% duties on copper and other key imports, future hikes on trucks, aircraft, and pharma. Inflation is projected to stay higher than prior estimates, with Goldman forecasting 3.3% core inflation this year.