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Trump to Launch ‘External Revenue Service’ to Tax Imports
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Subscribe16 JAN 2025 / ECONOMY
Former President Donald Trump proposes to establish a new agency, the External Revenue Service (ERS), to collect tariffs from foreign sources, aiming to shift the burden of trade away from Americans. However, critics warn of potential economic instability, higher consumer prices, retaliatory foreign tariffs, and bureaucratic inefficiency, while questions remain about the implementation and impact of the ERS, slated to begin operations on January 20, 2025.
Donald Trump is back with a headline-grabbing plan, promising to shake up trade policies as he prepares to return to the White House. His proposal? A brand-new agency, the External Revenue Service (ERS), is designed to collect tariffs and revenues from fo...
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