On January 7, 2025, US President-elect Donald Trump delivered a speech at Mar-a-Lago in Palm Beach, Florida, USA.
Carlos Barria | Reuters
President-elect Donald Trump said on Tuesday that he would create an “IRS” to collect “tariffs, tariffs and all income from foreign sources.”
Trump did not provide any further details about the proposed government entity.
Now, U.S. Customs and Border Protection Responsible levy tariffs.
“For too long, we have relied on the Internal Revenue Service (IRS) to tax our great people,” Trump wrote in a “Truth Society” post.
“Through weak trade deals, the American economy brings growth and prosperity to the world while taxing ourselves,” Trump wrote.
“It’s time to change that. I’m announcing today that I will create the External Revenue Service to collect our duties, tariffs, and all revenue from abroad,” he wrote.
“We’re going to start charging those who make money off us through trade, and they’re going to finally start paying their fair share.”
Trump wrote that next Monday “January 20, 2025 will be the IRS’s birthday.”
Trump will be sworn in at the White House that day to begin his second non-consecutive term.
CNN reported last week that Trump was considering declaring a national economic emergency to clear the way for him to impose the tariffs he wants to impose. He said he would increase tariffs on imported products from China by 10% and impose 25% tariffs on products from Canada and Mexico.
Asked for more details on the new agency’s plans, Trump spokesman Steven Cheung told CNBC in an email, “I refer you to President Trump’s announcement on Truth Social post.
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