He compared his planned creation to the Internal Revenue Service, which is the nation’s domestic tax collector.

The parallel with the Internal Revenue Service is seen as a signal of the president-elect’s determination to enact sweeping import duties.

President-elect Donald Trump has announced his plan to create a federal body charged with taxing and collecting taxes from U.S. trade partners.

President-elect Donald Trump said he would establish an External Revenue Service to collect tariffs, duties and all revenue from foreign sources.

The creation of a separate department will likely need congressional support, though Trump could try to establish the department within a different existing agency.

Even if Donald Trump vastly expands the use of tariffs as president, it's unlikely he'll collect enough revenue to replace the more than century-old federal income tax system.

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.

The president-elect's latest proclamation on Truth Social lacked details but appeared to reinforce his tariff plan

The president-elect announced the proposed agency on his social media platform writing that the U.S. “will begin charging those that make money off of us with Trade, and they will start paying."