US President Donald Trump delivers remarks at Mar-a-Lago in Palm Beach, Florida, US January 7, 2025.
Carlos Barria | Reuters
President-elect Donald Trump On Tuesday he said he would create an “External Revenue Service” to collect “TaxesDuties and all income from foreign sources.”
Trump did not provide further details about the proposed government entity.
Currently, US Customs and Border Protection is responsible for collecting taxes.
“For too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS),” Trump wrote in a Truth Social post.
“Through soft and weak trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves,” Trump wrote.
“It is time to change that. I am announcing today that I will create the FURTHER FINANCIAL SERVICE to collect our Tariffs, Duties, and all revenues from foreign sources ,” he wrote.
“We will start charging those who make money from us with Trade, and they will start paying, eventually, their fair share.”
Trump wrote that next Monday, “January 20, 2025, is the birth date of the Internal Revenue Service.”
Trump will be sworn in for his second non-consecutive term in the White House that day.
CNN last week it was reported that Trump is considering declaring a national economic emergency to clear the way for the tariffs he wants to implement. He has said he will increase tariffs on imports from China by 10%, and impose 25% tariffs on products from Canada and Mexico.
Asked for additional details about the new agency's plan, Trump spokesman Steven Cheung told CNBC in an email, “I would direct you to President Trump's post on Truth Social. “
