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

Politics and Government Politics and Government

Tue, January 14, 2025

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

^{Published on 2025-01-14 12:41:00 - MSN}

President-elect Donald Trump said he would create an "External Revenue Service" tasked with collecting tariffs on foreign imports, the latest indication that the Republican aims to carry out his promises for sweeping trade levies when he retakes office.

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 ]

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