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

The new tariffs imposed by U.S. President Donald Trump on imports from Canada, Mexico, and China are likely to have a limited near-term impact on global oil and gas prices, Goldman Sachs said in a note on Sunday.

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,