Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele/8:55 PM · Jan 20, 2025:
The 47th President of the United States, Donald J. Trump announced plans to establish an 𝐄𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 to impose tariffs and taxes on other countries.
This move could disrupt international trade and further complicate the already complex global tax system, highlighting the importance of our ongoing tax reforms.
By revamping our tax system, we can better navigate potential challenges and seize any opportunities this development may present.
7:36 AM · Jan 21, 2025
AMERICA’S “EXTERNAL REVENUE SERVICE”
The plan to establish an External Revenue Service in the United States is contained under section 2(b) of the Presidential Executive Order titled “America First Trade Policy” signed on 20 January 2025 by President Donald Trump. It states that:
“The Secretary of the Treasury, in consultation with the Secretary of Commerce and the Secretary of Homeland Security, shall investigate the feasibility of establishing and recommend the best methods for designing, building, and implementing an External Revenue Service (ERS) to collect tariffs, duties, and other foreign trade-related revenues.”
You can read the Order here;
https://whitehouse.gov/presidential-actions/2025/01/america-first-trade-policy/
