08:57 AM EST, 01/09/2025 (MT Newswires) -- Canada is looking at levying retaliatory tariffs on a wide range of American-made goods including orange juice, ceramics such as toilets and sinks, and some steel products as part of a targeted response should Donald Trump proceed with a threat to impose a 25% tax on all products from Canada, The Globe and Mail has reported.

It cited a senior government source saying the list of retaliatory targets is still being developed and is not finalized. The Globe and Mail is not naming the source because they were not authorized to discuss the matter publicly. As The Globe reported earlier this week, Ottawa is considering an early release of the full proposed target list to alert American businesses to the extra costs they would bear should the United States start a trade war with Canada.

Trump is set to become U.S. president on Jan. 20 and has vowed to impose steep tariffs on Canadian goods if the country doesn't take sufficient action on illegal migration and drug smuggling into American territory from Canada.

Ottawa has announced $1.3-billion in new border security spending over six years but Trump has so far not signalled he's satisfied. On Tuesday he said he still plans to impose substantial tariffs on Canada -- while suggesting he could compel the country with "economic force" to join the United States.

Other possible targets for retaliatory tariffs include American glassware, flowers and certain plastics, the source said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)