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President vows overhaul of trade policy, new "external revenue service" to collect tariffs
Summary
The president said he will overhaul U.S. trade policy, impose tariffs to benefit American workers and create an "external revenue service" to collect tariffs and duties for the Treasury.
The president said he will overhaul the U.S. trade system, impose tariffs on foreign countries and create a new agency to collect related revenues.
"Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens," the president said. He announced the establishment of an "external revenue service to collect all tariffs, duties, and revenues," and said the agency would bring "massive amounts of money pouring into our treasury coming from foreign sources."
The speech frames the change as a revenue and jobs strategy but did not provide legislative text, tariff schedules, or details about how the proposed agency would interact with U.S. Customs and Border Protection, the Department of the Treasury, or World Trade Organization obligations.
