By Tom Wrobleski
Staten Island Advance, N.Y.
(TNS)
Jan. 15—Americans are very familiar with the Internal Revenue Service.
Now President-elect Donald Trump is announcing the formation of an “External Revenue Service.”
The new agency, which Trump announced on Truth Social, will collect the proceeds from tariffs and other revenue from foreign countries, The Hill reported.
“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,” Trump said.
“It is time for that to change. 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.”
Trump has said he will enact 25 percent tariffs on goods from Mexico and Canada. He has threatened tariffs of up to 60 percent on goods from China.
Those countries are America’s three biggest trade partners.
Trump said he would put the tariffs in effect by executive order on his first day in office, which is Monday.
“We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share. January 20, 2025, will be the birthdate of the External Revenue Service. MAKE AMERICA GREAT AGAIN!” Trump said on Truth Social.
Reuters reported that Trump did not specify whether the new agency would replace collection of tariffs, duties, fees and fines performed by U.S. Customs and Border Protection or collection of taxes on foreign corporate and individual income by the IRS.
Also unclear was whether the move would create additional government bureaucracy, which would appear to go against the plans of Trump’s informal Department of Government Efficiency.
That effort, led by billionaire Elon Musk and former biotech executive Vivek Ramaswamy, is aimed at finding trillions of dollars in budget savings by streamlining government operations.
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(c)2025 Staten Island Advance, N.Y. Visit Staten Island Advance, N.Y. at www.silive.com. Distributed by Tribune Content Agency LLC.
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Tags: Taxes
