During the presidential campaign, Trump often talked about the idea of replacing US income taxes with tariffs.
US President-elect Donald Trump has announced that he will create a new government agency called the External Revenue Service to collect duties, taxes and all income from foreign sources. Reuters wrote this on Tuesday, January 14.
Trump has said he plans to create the agency on Jan. 20, the day he officially takes office as president for a second term.
“Because of soft and embarrassingly weak trade agreements, the American economy has provided growth and prosperity for the world while we tax ourselves. It’s time to change that,” Trump wrote on Truth Social.
“We will start forcing those who profit from us in trade to finally pay their fair share,” he added.
Representatives of Trump’s transition team have not yet commented on how the new agency will operate. Trump also did not specify whether the structure would replace Customs and Border Protection, which currently collects duties, fees and fines, or the IRS, which collects taxes from foreign corporations and individuals.
More than a hundred orders have been prepared for US President-elect Donald Trump’s signature since his first day in the White House. They will consider border security, deportations and several other political priorities.
As you know, on November 13, Trump announced that Musk and Ramaswami will head the new Department of Government Effectiveness (DOGE), which, despite its name, is not a government agency.
New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.