US President-elect Donald Trump delivers remarks at Mar-a-Lago in Palm Beach, Florida, US on January 7, 2025.
Carlos Barria | Reuters
President-elect Donald Trump on Tuesday he said he would establish an “Internal Revenue Service” to collect “TariffsCustoms duties and all income from foreign sources.”
Trump did not provide any additional details about the proposed government.
Currently, US Customs and Border Protection is responsible for tariff collection.
“For too long we have relied on taxing our big people with the Internal Revenue Service (IRS),” Trump wrote in a post on Truth Social.
“Through soft and pathetically weak trade deals, the US economy has provided growth and prosperity to the world while we have taxed ourselves,” Trump wrote.
“It’s time to change that. Today I’m announcing that I will create a FOREIGN REVENUE SERVICE to collect our tariffs, customs duties and all revenue that comes from foreign sources,” he wrote.
“We will start charging those who profit from us with trade and they will start paying, FINALLY, their fair share.”
Trump wrote that next Monday, “January 20, 2025, will be the birth date of the IRS.”
On that day, Trump will be sworn in for his second non-consecutive term in the White House.
CNN reported last week that Trump is considering declaring a national economic emergency to clear the way for the tariffs he wants to impose. He said he would raise tariffs on imports from China by 10 percent and impose duties of 25 percent on products from Canada and Mexico.
Asked for more details on the plan for the new agency, Trump spokesman Steven Cheung told CNBC in an email: “I would refer you to President Trump’s post on Truth Social.”
