Trump’s ‘External Revenue Service’ plan will strike fear into countries doing business in the US
Former US assistant secretary of state for economic and business affairs in the Trump administration Manisha Singh is weighing the president-elect’s plan to create a ‘foreign revenue service.’
President-elect Trump’s plan to establish an “External Revenue Service” is drawing the attention of leading economists, including Manisha Singh.
In an exclusive interview with Edward Lawrence of FOX Business, the former Head of the Department of Economic Affairs of Trump State Manisha Singh expressed admiration for the “new” plan, saying that the measure will “instill fear” in countries doing business in the US.
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“This is the old President Trump. He’s innovative. He thinks outside the box. He thinks about what we can do to improve government jobs for the American people. And I think the words “Internal Revenue Service” strike fear into the hearts of many American taxpayers. And the purpose of the Internal Revenue Service would be to look at that. once,” argued the economist.
Donald Trump speaks to visitors during a campaign stop at Drake Enterprises, an auto parts manufacturing company, on September 27, 2023 in Clinton Township, Michigan. (Photos by Scott Olson/Getty Images)
President-elect Donald Trump revealed on Tuesday that he plans to create a new agency called the “External Revenue Service,” which will work to collect money, jobs and income from foreign countries.
Trump took to Truth Social to make the announcement, writing that it’s time to change “the pathetically soft and weak trade agreements of the US.”
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“We’re going to start charging those who make money for us from trading, and they’re going to start paying, FINALLY, their fair share,” President-elect Donald Trump wrote on Tuesday.
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In continuing his support for “ERS,” Singh says that this unique organization can create a “system” to effectively control prices – a major talking point of Trump’s presidential campaign.
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“When people hear the words “tariff,” they worry about consumer prices, they worry about how those tariffs will be paid and collected,” Singh began.
While the President-elect’s tax plan has caused consternation among some Americans, Singh says the “External Tax Service” will “provide comfort” in the plan.
“If you put in a system where those costs are considered, how they are started, how they are collected, it will give comfort to people who do not understand and who feel that there may not be an adequate thought process about how to tax,” he concluded.
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