President Donald Trump is preparing to formally announce 25% tariffs on steel and aluminum imports. It's part of an aggressive effort to remake the existing terms of world trade that so far has compounded economic uncertainty.

President Trump says he'll announce the U.S. will impose 25% tariffs on all steel and aluminum imports, including from Canada and Mexico, as well as other import duties.

The 25 percent tariff the president is proposing is almost identical to a move in his first term. Economists and foreign governments know what will come next.