Trump to Launch External Revenue Service for Tariffs and Duties Collection Starting January 20.
President-elect Donald Trump has revealed plans to establish the External Revenue Service, set to begin operations on January 20. The new department will focus on collecting tariffs and duties from foreign sources as part of Trump’s strategy to impose significant tariffs on key trading partners and global imports. This move is aimed at ensuring fair trade practices and addressing long-standing trade imbalances.
In a move that could create further challenges for the US’s international trade partners, former President Donald Trump is reportedly planning to establish a new department dedicated to collecting tariffs, duties, and all revenue from foreign sources.
This department, which would focus on enhancing the US government’s ability to collect financial penalties and trade revenue, has raised concerns among critics who fear it could escalate tensions in already strained trade relations. While details of the plan are still emerging, some analysts believe that this initiative could lead to greater scrutiny on imports and potentially affect the cost of goods for US consumers.
This step aligns with Trump’s continued focus on “America First” trade policies, which aim to increase revenue from foreign imports and reduce the country’s trade deficit. However, it may also signal further barriers for US trade partners, especially those who have been subject to tariff increases during Trump’s previous presidency. The potential creation of such a department would likely heighten concerns among global trading partners about additional tariffs and regulations on goods entering the US.