External Revenue Service

External Revenue Service
Agency overview
FormedTBD

The department of External Revenue Service is a future planned US government department. It is intended to collect tariffs, duties, and other revenue from foreign sources. According to Trump, the External Revenue Service will address the issue of the American economy delivering growth and prosperity to the world while being taxed domestically. He stated that the new department will start charging foreign entities that profit from trade with the U.S., ensuring they pay their fair share.

The Internal Revenue Service (IRS) is currently responsible for administering and enforcing the internal revenue laws within the U.S., and there is no existing External Revenue Service within the U.S. government. The term “External Revenue Service” as used by Trump appears to be a newly proposed entity and not a pre-existing government department.

The External Revenue Service, as described by Trump, would be distinct from the IRS and would focus on collecting revenue from foreign sources rather than domestic ones.

It was announced by Donald Trump on January 15th 2025.[1] [2]

Creation

The "External Revenue Service" is a proposed new department to be established by U.S. President-elect Donald Trump, aimed at collecting tariffs, duties, and other revenue from foreign sources. This initiative is part of Trump's broader trade policy, which includes imposing tariffs on imports from foreign countries to enforce an "America-first" approach.Trump announced this plan on his Truth Social network, emphasizing the need for foreign entities to pay their "fair share" from trade profits.The creation of this service reflects Trump's commitment to his campaign promises regarding trade levies.[3][4][5][1][6]

See also

References

  1. ^ a b Berkowitz, Ben (January 14, 2025). "Trump promises "External Revenue Service" to collect tariffs". Axios.
  2. ^ https://www.reuters.com/world/us/trump-says-will-create-external-revenue-service-collect-revenue-foreign-sources-2025-01-14/
  3. ^ "Trump says he will create 'External Revenue Service' to tax foreign trade profits". www.aa.com.tr.
  4. ^ Presse, AFP-Agence France. "Trump Says Will Create 'External Revenue Service' For Tariffs". www.barrons.com.
  5. ^ "Trump Says He'll Create 'External Revenue Service' for Tariffs". Bloomberg. January 14, 2025 – via www.bloomberg.com.
  6. ^ https://www.usnews.com/news/world/articles/2025-01-14/trump-says-will-create-external-revenue-service-to-collect-revenue-from-foreign-sources