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Which country will face the highest tariffs from the External Revenue Service by the end of 2025?
2
Resolution / Starting Odds
China • 25%
Mexico • 25%
Canada • 25%
European Union • 25%
Official tariff policy documents or announcements from the External Revenue Service
Story
Trump to Replace IRS with External Revenue Service Collecting Foreign Tariffs
Jan 14, 2025, 04:48 PM
President-elect Donald Trump announced he will create an 'External Revenue Service' to collect tariffs, duties, and all revenue from foreign sources, aiming to replace the Internal Revenue Service (IRS). The new department seeks to reduce reliance on taxing American citizens. Trump stated, 'We will begin charging those that make money off of us with trade, and they will start paying, finally, their fair share.' The External Revenue Service is set to be formed on January 20.
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