Trump says he will create 'external revenue service' to collect tariff income | Trump administration | The Guardian
S E E D E D C O N T E N T
President-elect vows creation of agency as soon as he takes office in further push for regime of taxes on foreign imports
Donald Trump has said he will create an "external revenue service" as soon as he returns to the White House next week, adding further substance to his campaign vow to establish a new regime of tariffs on foreign imports.
"I am today announcing that I will create the EXTERNAL REVENUE SERVICE to collect our Tariffs, Duties, and all Revenue that come from Foreign sources," the president-elect posted on his Truth Social network on Tuesday.
"We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share."
He said the "birth date" of the new service would be 20 January 2025, the day of his presidential inauguration - suggesting that its creation would be one of a flurry of executive orders that are anticipated in his first day in office.
Donald Trump denies he will pare back aggressive tariffs planRead more
It is unclear if it would have the status of a federal government agency, although Trump's post implied it would be the equivalent of the existing Internal Revenue Service, the US's domestic taxation authority.
"For far too long, we have relied on taxing our great people using the Internal Revenue Service (IRS)," he wrote. "Through soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves. It is time for that to change."
During the election campaign, Trump repeatedly suggested eventually abolishing income tax and replacing it as the main source of government revenues with tariffs.
The suggestion for an external revenue service had been mooted earlier in the day by Steve Bannon, Trump's ally and former White House adviser in his first term, at a conference staged by Politico.
"Tariffs paid for everything up until the early 20th century," Bannon said. "But you wouldn't just look at tariffs, you look at everything about how you can charge fees essentially, whether that's on investment, whether that's on other things of access to this country. America's behind the golden door, OK? And this market is the most robust, lucrative market in the world, and we shouldn't just let people have access, we shouldn't let foreigners have access to this market and to the American people and American citizens for free."
Tariffs on foreign imports are currently collected by the US Customs and Border Protection, an agency under the umbrella of the Department of Homeland Security.
Bannon said the new service should be under the remit of the treasury department and should "take the burden off people on Internal Revenue Services".
In the weeks since November's election win, Trump has threatened tariffs on imports from Canada and Mexico, the US's two closest trading partners, as well as additional tariffs on Chinese goods.
During the campaign, he threatened to impose import taxes of between 10% and 20% on all foreign goods, despite the warnings of many economists that such a move could fuel inflation.
Reports citing his closest aides have suggested that tariffs could be applied to every foreign country, but would only cover critical imports.
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We have two people that are supposed to cut government waste and shrink the size of government, yet Trump is talking about adding another government agency to do something that is already being done by existing agencies.
No matter how you slice it and lie about who is paying the tariffs, it is the US consumer that that is paying the tariff charges. If you believe anything else I have waterfront property and bridges for sale, first come first screwed.
meh, wannabe mob boss POS/POTUS elect wants to skim the take ...
LOL, wannabe is correct in a lot of things with Trump.
Tariffs are just another name for taxes. This is just another example as to how ignorant the current POTUS is about everything he does.
one thing for certain, it won't be trump and his rich pals paying those taxes ...
What does that even mean? Does Bannon know anything about the economy, tariffs, markets, and what not?
Tariff charges are collected by US Customs not the IRS they collect taxes on foreign corporations.
Tariffs 101
Yes, I got that from your article. I guess Bannon didn't get the memo? Does he think tariffs are collected by the IRS?
It seems that he does, Trout.
Is this guy truly this dumb? Is he so simple-minded as to think that there is some reason to have balanced trade with each trading partner? Or is this just more playing to those in his base who fall for everything he says?
Yes.
I think a bit of both comes into play here. It's sad to think most US citizens don't know that a President can't create a new department of government by an Executive Order.
He thinks that he can, after all he created the Musk/Ramsay savings department…LOL
He thinks he has a mandate because he has the backing of 23% of the country.
Exactly, and it will be interesting to see how far he tries to go with that ‘’mandate’’.
like trump never bites off more than he can chew ... /s
But isn't he talking about creating a new bureau under the Treasury Department similar to the IRS is? I did some searching but cannot confirm if the President has the authority to create a new bureau, he definitely cannot create a new department. But without Congress he cannot fund it. If he can't fund it, how can he hire anybody into it?
IMO, playing to the base and trying to hide that we already collect tariff through US Customs. We do not need another department to collect something that has been done by US Customs for decades.
US Customs enforces and collects tariff charges and that money goes into the general fund, does Trump want to deposit it somewhere else?
Should I answer that when the answer is so obvious?
He's gonna turn this country into a banana republic
BINGO, you got it, Trout.
Me..... I make that TRY....but, my intuition tells me he will never succeed. The civilized and true Americans won't go for that.....I truly feel his days as POS/POTUS are not going to last 4 years, much less for a dictatorship of free America
JMOO
Hopefully you’re correct, RW.
Morning Raven..good to see you and hope you are well and safe..
Thanks shona.... and good to see you too
. Had to be away for a while, but, all is well.
yay! you and your kitties stay safe.
I hope I'm still here when the party starts.
So far so good, dev.
Me too...
Arvo...even I would consider flying in for that one...geez what a grovel that would be..
Hmmm I know you are not meant to roll up empty handed.. now I wonder what I could bring..
I know... Veg....nah Pavlova..😁
On my war, Shona.
I sure hope you're right.
You will sneak that Vegemite in here somehow. If you can get it past customs. That cake sure looks yummy. Are those crossaints filled with the V word?
just your presence would be enough ...
I wonder how long the idea of this ‘’new’’ department will last. A lot of the promises by Trump are falling by the wayside.
Gotta wonder when someone will tell him that IRS does not collect tariff fees, there is all ready a department formed in 1796 called US customs that does it.
Are you sure that any of his advisers even know this? I've never seen a more ignorant bunch of yahoos in my life. I bet they all slept thru high school POD
Good point, Trout. That is not a bet I’d take.
like that moron knows how the US government functions ...
But he has coins to sell, that is part of government, I’m not sure which part though.
he wants his picture on paper money, but most of his supporters never have larger than $20 bills on them ...
and it's beneath him for his face to appear on any denomination lower than a $100 bill ...
He can't have it. That's Ben Franklin's denomination!
Yesterday in his speech he once again stated about the NEW collection department and all the money it will collect, and the monkeys applauded not knowing that the money they will be collection is not from foreign nations but from US taxpayers.
There really are many in this country SOS (stuck on stupid),
77 million way more ignorant than their criminal/traitor cult leader at last count ...
SO he is going to create another agency to tax us on top of the one we already have, why?
Currently tariffs are collected by US Customs and the money goes into the general fund, now Trump wants this special department to do the same job that US Customs has been doing for decades you have to wonder why, perhaps he wants that money in a fund other than the general fund and if so for what purpose.?
He's got to fund his future lawsuits knowing he won't be able to get elected for a 3rd term to get out of them.
LOL, I wouldn’t put it past him.
it's all about skimming the take ...
Trump could be trying to set up an off shore account in Panama, ya think.
that's where trump's skim from the canal will be headed ...
Trump could be trying to set up an off shore account in Panama, ya think.
he already has some, that's why he's mad at panama, they ratted him and all his scumbag rich friends out ...