Trump says will create ‘External Revenue Service’ for tariffs

WASHINGTON: US President-elect Donald Trump said on Tuesday that he plans to form an “External Revenue Service” for tariff collection, less than a week before he takes office.

This comes as Trump, who posted the statement on social media, has promised sweeping levies on allies and adversaries as he seeks to pressure partners into tackling issues including migration and drug trafficking.

On Tuesday, Trump wrote on Truth Social that he would create the new body “to collect our tariffs, duties, and all revenue that come from foreign sources.”

“January 20, 2025, will be the birth date of the External Revenue Service,” he added, referring to the day he takes office. The name is a play on the Internal Revenue Service, a bureau under the Treasury Department that administers and enforces US tax laws.

In his online post, Trump did not provide further details on how the new department would be formed. Trump on Tuesday also criticised the United States’ past efforts to pursue trade agreements, saying these accords were “soft and pathetically weak.”