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US President-elect Donald Trump delivers a statement at Mar-a-Lago in Palm Beach, Florida, US on January 7, 2025.
Carlos Baria | Reuters
The elected president Donald Trump on Tuesday said it would create an “External Revenue Service” to collect “Tariffsduties and all income from foreign sources.’
Trump did not provide further details about the proposed government agency.
currently, US Customs and Border Protection is responsible for collection of tariffs.
“For too long we have relied on the Internal Revenue Service (IRS) to tax our great people,” Trump wrote in a Truth Social post.
“Thanks to soft and woefully weak trade deals, the American economy has ensured the growth and prosperity of the world by taxing us,” Trump wrote.
“It’s time to change that. Today I am announcing that I will create a FOREIGN REVENUE OFFICE to collect our tariffs, duties and all revenues from foreign sources,” he wrote.
“We’re going to start charging those who make us money through trading and they’re going to FINALLY start paying their fair share.”
Trump wrote that next Monday, “January 20, 2025, will be the birth date of the Internal Revenue Service.”
On this day, Trump will be sworn in for a second term in the White House.
CNN Last week, it was reported that Trump was considering declaring a national emergency to clear the way for the tariffs he wants to impose. He said he would raise tariffs on imports from China by 10% and impose tariffs of 25% on products from Canada and Mexico.
Asked for more details on the new agency’s plan, Trump spokesman Stephen Cheng told CNBC in an email: “I would direct you to President Trump’s message on Truth Social.”
