Trump announces plans to create agency for collecting tariffs from foreign countries

• Trump to Create Body for Tariffs.
• Will It Replace the IRS?
• Benefits for Trade.

President-elect Donald Trump has announced the creation of a new agency dedicated exclusively to the collection of tariffs and revenues from international trade.

Trump compared this new entity, which will be named the External Revenue Service (ERS), to the Internal Revenue Service (IRS), responsible for collecting national taxes.

«We will start charging countries that have benefited from our trade, and they will finally pay what they owe,» he declared.

The announcement comes less than a week before Trump takes office for the second time on January 20.

Donald Trump Announces New Measure

The Republican has been a consistent critic of existing trade agreements, describing them as «soft and pathetically weak.»

According to him, these agreements have allowed other nations to profit at the expense of the U.S. economy.

YOU MIGHT BE INTERESTED IN: Biden Administration will remove Cuba from the list of countries sponsoring terrorism

«The U.S. economy has driven global growth and prosperity, while we bear the cost,» he stated.

Among the most significant measures proposed by the president-elect is the implementation of a 25% tariff on products from Mexico and Canada.

Additionally, he mentioned that he would impose a 10% tax on Chinese imports, conditional on China curbing the flow of fentanyl to the U.S.

The External Revenue Service would manage and collect the announced tariffs, although Trump did not detail its operation.

The announcement has generated divided reactions among experts.

Some believe the measure could strengthen the U.S. economy, while others warn of potential repercussions on international trade relations.

The president-elect emphasized that his approach aims to correct years of what he considers unjust economic policies.

«Tariff is the most beautiful word in the dictionary,» he commented in a statement that reflects his protectionist stance.

On the other hand, the proposal has raised concerns among U.S. trading partners, who might respond with similar measures.

Mexico and Canada, the main affected by the announced tariffs, have indicated that they will analyze the impact of these decisions on bilateral trade.

China, for its part, has reiterated that fentanyl is a complex issue that requires international cooperation and not unilateral sanctions.

The potential impact of these measures on the U.S. consumer is also under scrutiny.

Since tariffs typically result in higher prices for imported products.

Trump argues that the tariffs will strengthen the economy by generating significant revenues.

The External Revenue Service is poised to be a key institution in Trump’s economic policy during his second term.

This approach bets on a protectionist model that prioritizes the economic self-sufficiency of the United States.

The implementation of this measure will be closely watched, not only in Washington.

But also in the capitals of the affected countries, which will seek to adapt to the new rules of bilateral trade.

Trump’s announcement reaffirms his intention to carry out bold and disruptive policies that redefine the country’s place in the global economy.

The international community awaits with uncertainty a possible change in the United States’ trade relations with the world.

The plan could transform trade policies and economic relationships globally.

Trump seeks to mark his second term with a lasting economic impact, even if it generates tensions with trading partners.

To listen to the podcast click on the image