Texas Border Business
Texas Border Business
On January 14, 2025, President-Elect Donald Trump boldly announced a new policy initiative to restructure the United States’ revenue collection process. Posting on his platform, TRUTH Social, Trump declared the establishment of the “External Revenue Service” (ERS), a body intended to collect tariffs, duties, and other revenues from foreign trade partners.
“For far too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS),” Trump 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.”
The ERS, slated to launch on January 20, 2025, officially—the same day as Trump’s inauguration—marks a significant departure from traditional U.S. economic policies. The initiative seeks to lessen the tax burden on American citizens by increasing revenue generated from international trade and commerce. According to the President-Elect, the ERS will “charge those that make money off of us with Trade,” ensuring that foreign entities begin paying what he referred to as their “fair share.”
This proposal reflects Trump’s longstanding emphasis on renegotiating trade agreements and using tariffs to balance trade deficits.
While some economists argue that this strategy could boost federal revenue and offer relief to American taxpayers, others caution about potential repercussions, such as strained international relations or retaliatory actions from trading partners.
The announcement has already sparked widespread discussion across political and economic circles. Many are awaiting further details about how the ERS will operate, its relationship with the IRS, and its impacts on global trade dynamics.
As January 20 approaches, the rollout of the External Revenue Service will be closely monitored as a cornerstone of Trump’s policy agenda. “MAKE AMERICA GREAT AGAIN!” Trump concluded in his post, emphasizing his commitment to reshaping America’s financial and trade systems.
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