Tue, January 14, 2025

Trump Says He'll Create 'External Revenue Service' for Tariffs

In a recent statement, former President Donald Trump announced his intention to establish an "external revenue service" aimed at managing tariffs if he were to be re-elected. This new entity would be separate from the Internal Revenue Service (IRS) and focus exclusively on collecting tariffs from imports, which Trump believes would help reduce the trade deficit and fund tax cuts. He criticized the current IRS for being too focused on domestic tax collection and suggested that this new service would streamline the process of imposing and collecting tariffs, potentially making trade policy a more significant tool in his economic strategy. Trump's proposal comes amidst ongoing debates about trade policies and their impact on the U.S. economy, reflecting his continued emphasis on protectionist measures.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/trump-says-he-ll-create-external-revenue-service-for-tariffs/ar-BB1rrOl4 ]