OAN Staff Avril Elfie
6:07pm – Tuesday, January 14, 2025
President-elect Donald Trump announced he would create a Bureau of Foreign Revenue that would collect all foreign revenue.
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On Tuesday, President Trump posted on Truth Social that when he returns to the White House, he will create an Office of the External Revenue Service (ERS) to collect tariffs and other foreign revenues.
“For too long, we have relied on using the Internal Revenue Service (IRS) to tax our greats. Through soft and pathetically weak trade agreements, the American economy has delivered growth and prosperity to the world. Yet they have taxed themselves,” Trump wrote on Truth Social. “Today I am announcing the creation of a foreign revenue service. [ERS] To collect our customs duties, duties, and all revenues derived from foreign sources. ”
He went on to say that the ERS will be established on January 20th.th “We will start charging those who benefit from us in trade and they will finally start paying their fair share.”
During his campaign, Trump proposed abolishing the income tax and replacing it with tariffs as the government's main source of revenue.
Customs collection currently falls under the authority of U.S. Customs and Border Protection (CBP), which is part of the Department of Homeland Security.
The president-elect has already threatened to raise tariffs on foreign countries that don't follow immigration policies. He has specifically threatened to impose a 25% tariff on Mexico and Canada, in addition to imposing an import tax of “10% to 20%” on all foreign goods, and on imports from China. imposes tariffs of up to 60%.
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