Report: Canada is considering an early announcement of retaliatory tariffs on American goods.

Some news reports from various Canadian media outlets on Tuesday morning, according to sources familiar with the matter, indicated that the Canadian federal government is currently considering an early announcement of a proposed list of American goods that would be targeted by Canadian tariffs in retaliation if the elected U.S. President Donald Trump imposes tariffs on imports from Canada after his inauguration.

These reports come after Trump, who is set to be inaugurated on January 20, denied a news report published by The Washington Post the previous evening, which stated that Trump intends to impose tariffs only on certain imports of essential goods to the United States.

It is worth noting that China and the European Union have previously expressed their concerns regarding the tariffs that Trump intends to impose in international trade transactions, with China warning that this could ultimately lead to global trade wars.