President-elect Donald Trump ran on a platform of “America-first” economic policy, and according to the economics team at Goldman Sachs that’s just what he is going to deliver — to the detriment of the global economy.

In his 2017 outlook, Jan Hatzius, chief economist at Goldman, laid out just what he and his team expect the impact of Trump’s policies as president to be on the global economy.

Hatzius examined the key Trump policy proposals — higher tariffs on trade, curbing illegal immigration, increased federal stimulus, tax cuts for corporations and Americans — and found that while the plan did give the US a short-term bump in GDP growth, it would be a drag on global growth.

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