While that ban has not been published yet and details are subject to change, here's what we know, based on a State Department memo reviewed by The Wall Street Journal.
This version of the travel ban, The Wall Street Journal reports, would put temporary restrictions on entry from the seven Muslim-majority countries mentioned in the initial ban: Iraq, Syria, Iran, Sudan, Libya, Somalia and Yemen. An anonymous State Department official told the Journal the new ban may not prevent Syrian refugees from entering.
The new ban would reportedly exclude green-card holders, while the first one initially did not.
Beyond that, Homeland Security Secretary John Kelly said Saturday during a visit to Munich that the order would be "tighter" and "more streamlined." He also said there would be a "short phase-in period," but did not specify how long that would be. The State Department memo shows government lawyers are seeking a week or two to actually implement the ban.
Last week, Trump said the order would be "very much tailored to what I consider to be a very bad decision," referring to the Ninth Circuit Court of Appeals' ruling.
We're issuing a new executive action next week that will comprehensively protect our country.
When's it coming?
The Journal reports the order could be released as soon as Tuesday. Trump said at his press conference on Thursday that an order to "protect our country" would come the following week but did not explicitly say it referred to a travel ban.
The President will clear the way for immediately protecting the country rather than pursuing further, potentially time-consuming litigation.
What happened to the old one?
The Trump administration decided not to appeal the court ruling on the travel ban after the Ninth Circuit Court rejected the ban, opting instead for an entirely new ban.
What does Congress think?
Sen. John Thune (R-SD) said he had not seen the new ban, but, "I hope they've run all the traps on it."
The Hill reports the Senate Judiciary Committee had not been consulted on the travel ban. The House Judiciary Committee deferred to the White House.