Trump pitches tariff collection agency

Business & Economy

The Big Story

Trump announces ‘External Revenue Service’ for tariffs

President-elect Trump said Tuesday he wants to create an “External Revenue Service” to collect tariffs and other revenue from foreign countries.

Trump likened the "ERS" to the agency that collects taxes from Americans.

“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 on Truth Social.

“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 would sign an executive order on his first day in office to enact tariffs of 25 percent on all Canadian and Mexican goods and add another 10 percent tariff on all Chinese goods.

“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 added in Tuesday’s post.

Customs and Border Protection, which is housed within the Department of Homeland Security, is currently responsible for collecting tariffs from U.S.-based importers of foreign goods subject to import taxes.

The Hill's Alex Gangitano has more here.

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