Trump will establish an agency to collect revenue from the tariffs he pledged to implement.

On Tuesday, January 14, elected U.S. President Donald Trump announced the creation of an "External Revenue Service." This agency will be responsible for collecting revenue from the extensive tariffs he promised to implement.

This was reported by RBK-Ukraine, citing CNN.

"For too long, we have relied on taxing our Great People through the Internal Revenue Service (IRS). Due to soft and pathetic trade agreements, the American economy has fueled growth and prosperity around the world by taxing itself. It’s time for a change. Today, I announce that I will create the EXTERNAL REVENUE SERVICE to collect our tariffs, duties, and all income from foreign sources," Trump wrote.

He added that the U.S. will start charging those who profit from them through trade. Now, countries will begin to pay "their fair share." The new head of the White House also mentioned the date when the new service will be established. According to Trump, this will happen on the day of his inauguration.

"January 20, 2025, will mark the birth of the External Revenue Service. LET’S MAKE AMERICA GREAT AGAIN!", he concluded in his post.

CNN reminds us that in November, Trump promised to significantly raise tariffs on goods from Mexico, Canada, and China, starting from the first day of his administration. Such a policy, as the media reports, could sharply increase costs for American businesses and consumers.

Additionally, the elected president is considering declaring a state of emergency in the country’s economy, according to CNN sources. This is necessary to provide a legal basis for imposing a large number of universal tariffs on both allies and adversaries. They stated that Trump aims to restore the global trade balance during his second term.

Recently, Canada’s ambassador to the U.S., Kirsten Hillman, stated that the Canadian government is ready to purchase more goods from the U.S., including its next fleet of submarines. This move aims to mitigate the threat of Trump’s tariffs.

She also warned that if Trump follows through on his plan to impose a 25% tariff on all Canadian products, prices for Americans will almost immediately rise.