President-elect Donald Trump said he would create an “External Revenue Service” tasked with collecting tariffs on foreign imports, the latest indication that the Republican aims to carry out his promises for sweeping trade levies when he retakes office.

President-elect Trump on Tuesday promised to create an "External Revenue Service" to oversee tariffs and other potential foreign revenue. Why it matters: It's yet another sign Trump is serious about his promised widespread tariff program,

Incoming U.S. President Donald Trump on Tuesday said he would create a tax revenue service that would collect all dues received from foreign sources, as he prepares to take office later this month. Trump made the promise of levying more tariffs on imported goods from China and other countries a cornerstone of his election campaign in 2024.