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Trump says new tariff collection agency to be set up next week
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WASHINGTON (Kyodo) -- U.S. President-elect Donald Trump said Tuesday he will set up a new government agency tasked with collecting revenue from tariffs.
In a social media post, Trump said the agency, called the External Revenue Service, will be established next Monday, when he returns to the White House for a nonconsecutive second term.
While the specifics of the agency remain unknown, he said, "For far too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS). Through soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves."
He said the planned entity will be in charge of collecting "our Tariffs, Duties, and all Revenue that come from Foreign sources."
The announcement could be an indication of Trump's resolve to impose sweeping import levies on foreign goods, as he promised before winning the Nov. 5 presidential election.
While on the campaign trail, Trump pledged, as part of efforts to create more jobs in the United States, to impose a 60 percent or higher tariff on imports from China and a "universal" duty of up to 20 percent on everything else entering the world's largest economy.
He also singled out "tariff" as "the most beautiful word in the dictionary" that is superior to love and respect.
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