Move over Internal Revenue Service: Trump creates brand-new taxing agency
President-elect Donald Trump, to be inaugurated and take office on Monday, has announced a new “External Revenue Service” that he says will start making those “who make money off of us” pay into the revenue stream for the nation.
“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,” he wrote on his Truth Social website.
“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. 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 birth date of the External Revenue Service. MAKE AMERICA GREAT AGAIN!”
JUST IN: President Trump announces the External Revenue Service pic.twitter.com/t9uT3ZRQDd
— WorldNetDaily (@worldnetdaily) January 14, 2025
The Hill reported Trump had pledged during the 2024 campaign to create taxes of 10% to 20% on foreign goods, with rates of up to 60% for Chinese goods.
In his statement, he specifically mentioned tariffs on goods from Canada and Mexico, too.”
In fact, those tariffs could appear beginning Monday, when he takes office.
The report said collecting tariffs now is the responsibility of Customs and Border Protection, within the Department of Homeland Security.
“Under the current system, CBP collects tariffs from U.S.-based importers of foreign goods subject to import taxes. The importer — not the foreign country or company from which the product was exported — must pay the tax to CBP,” the report said.
“In his first term in office, Trump imposed tariffs on foreign steel and aluminum, including from Canada and Mexico, and compelled both countries to renegotiate the North American free trade agreement with terms meant to boost U.S. manufacturing and improve compliance with labor laws.”
According to the Gateway Pundit, Trump has discussed relacing the revenue from the income taxes paid by Americans, but it was unclear if the announcement directly would affect the Internal Revenue Service, which does that collection.
However, that agency already is scheduled for an audit, under Trump, according to Elon Musk, who is working with Trump’s plans for a Department of Government Efficiency.