• Donald Trump proposes the establishment of an "External Revenue Service" to oversee tariff collections.
• The proposed agency aims to tackle revenue collection currently managed by existing departments.
• Critics warn the plan could lead to significant tax increases for American families.
• The initiative is part of Trump's broader agenda to reduce government size and regulation.

In a significant announcement, President-elect Donald Trump revealed plans to create a new agency dubbed the External Revenue Service to collect tariffs and other revenues from foreign nations. Trump expressed his intention on his social media platform, Truth Social, stating, "We will begin charging those that make money off of us with Trade, and they will start paying" (VOA News). This agency is anticipated to function similarly to the Internal Revenue Service (IRS), which collects domestic taxes.

Launching the External Revenue Service would necessitate an act of Congress, and with Republicans currently dominating both the House and the Senate, the proposal has potential legislative support. However, this move has raised eyebrows, as critics argue that it involves creating an additional agency to perform tasks already handled by existing entities like the Commerce Department and Customs and Border Patrol (AP News).

Furthermore, Trump has assembled a team comprising billionaire Elon Musk and entrepreneur Vivek Ramaswamy to lead his Department of Government Efficiency (DOGE). This non-governmental task force aims to reduce government size by cutting programs and federal regulations as part of Trump's "Save America" agenda for his prospective second term (Time).

As tariffs play a crucial role in Trump's economic strategy, the proposed measures suggest potential levies reaching 25% on goods from Canada and Mexico and 60% on products from China. Critics, including Oregon Senator Ron Wyden, have condemned the proposal, stating, "No amount of silly rebranding will hide the fact that Trump is planning a multi-trillion-dollar tax hike on American families" (India Times).

Economists remain skeptical of Trump's tariff strategy, suggesting that the costs will likely be passed onto consumers and deeming tariffs an inefficient method for raising government revenues.

For further details, refer to the original articles from VOA News, AP News, India Times, and Time.