The Japan External Trade Organization, or JETRO, says it is likely that global GDP will be pushed down by 0.3 percent, if US President-elect Donald Trump goes ahead with his plan to levy tariffs on Mexico, Canada and China.

Trump has announced that he will impose 25 percent tariffs on imports from Mexico and Canada, after he takes office in January, if those countries do not stop illegal immigrants and drugs from entering the United States. He has also said that he plans to slap an additional 10 percent levy on goods from China.

Isono Ikumo, a deputy chief researcher at JETRO's Institute of Developing Economies, estimates that the GDP could drop by 3.8 percent in Mexico, 1.2 percent in Canada and 0.3 percent in China, as the tariff hikes could cause exports from the automobile, food-processing, electronics and electric industries to decrease.

He projects that Japan's GDP could increase by 0.2 percent because the country's auto-related exports to the US will likely grow in response to the measures.

Isono notes that Trump's tariffs could affect Japanese companies operating in Canada and Mexico. He also indicates that his outlook for the global economy is bleak.