(AURN News) — President-elect Donald Trump announced plans Tuesday to establish a new federal agency called the External Revenue Service, aimed at shifting the nation's revenue collection focus from domestic taxation to foreign trade sources.

“For far too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS). Through soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves. It is time for that to change,” he declared through a post on Truth Social, his social media platform.

The announcement signals a potential major shift in U.S. revenue collection policy. Trump criticized what he characterized as an over-dependence on domestic tax collection through the Internal Revenue Service, arguing that the U.S. should instead generate more revenue from foreign trade sources.

"We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share," Trump wrote.

The new agency would be responsible for collecting tariffs, duties, and other foreign-source revenue. Inauguration day takes place next Monday on Martin Luther King Jr. Day.

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