Trump Announces Creation of External Tax Collection Service in the U.S.
The United States (U.S.) will launch a new External Tax Collection Service, which will be responsible for collecting taxes (tariffs) that will be applied to imports from other countries, as announced by newly elected President Donald Trump in his inaugural speech. "From this moment on, I will begin the reform of our trade system to safeguard American workers and families. Instead of taxing our citizens to enrich other countries, we will establish tariffs on imports to benefit our own citizens; therefore, we will create the External Tax Collection Service to handle the collection of these tariffs, which will go into the National Treasury," the president stated.
On the first day of his administration, the implementation of tariffs on imported products from countries like China, Mexico, and Canada was anticipated. However, the president did not provide details on specific tariffs or the countries affected. Trump mentioned that he will sign an executive order at 5:00 PM local time to formalize the creation of the External Tax Collection Service, along with other measures related to immigration and energy issues. He also plans to launch a measure to establish the Department of Government Efficiency, which will focus on reducing federal public spending. "Through trade agreements that have been ineffective and harmful, we have delivered growth and wealth to the rest of the world while we load ourselves with debt. This pattern must change," the Republican asserted in a post on Truth Social on January 14. Information from Reuters and AFP.
The creation of an External Tax Collection Service could have a significant impact on trade dynamics not only in the U.S. but also in African countries. If a stricter tariff system is established, it could trigger trade wars, affecting the flow of goods and services globally, which in turn could lead to an increase in consumer prices. It is crucial for both the U.S. government and the affected nations to manage this process strategically to avoid harmful repercussions on their economies.
