On Tuesday U.S. President-elect Donald Trump announced the establishment of a new revenue agency, the External Revenue Service, tasked with collecting tariffs and other income derived from taxes imposed on foreign countries.
“For far too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS). Through soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves. It is time for that to change,” Trump said on Truth Social.
“I am today announcing that I will create the EXTERNAL REVENUE SERVICE to collect our Tariffs, Duties, and all Revenue that come from Foreign sources. We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share.
Trump confirmed that the new agency would be established via executive order on his first day in office. “We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share,” he said. “January 20, 2025, will mark the birth of the External Revenue Service. LET’S MAKE AMERICA GREAT AGAIN!”
