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

US President Donald Trump plans to impose 25-percent tariffs on steel and aluminum imports from Monday, prompting the threat of retaliation from Europe and a warning from China that there were no winners in a trade war.

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.