President-elect Donald Trump on Tuesday announced plans to create a new agency called the External Revenue Service to collect tariffs and other revenues from foreign nations. “We will begin charging those that make money off of us with Trade, and they will start paying,” Trump said Tuesday on his social…

The president-elect, who has vowed to shrink the size of government, would be creating a new agency to perform functions already handled by existing agencies

President-elect Donald Trump on Tuesday announced plans to create a new agency called the External Revenue Service to collect tariffs and other revenues from foreign nations. “We will begin charging those that make money off of us with Trade, and they will start paying,” Trump said Tuesday on his social media site, Truth Social. The creation of a new agency requires an act of Congress, and Republicans hold the majority of both the House and the Senate.

President-elect Donald Trump says he plans to create a new agency called the External Revenue Service to collect tariffs and other revenue from foreign nations.

Trump declared next Monday will be the “birth date” of the IRS counterpart as tariffs become a core storyline at the start of his second term.