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

President-elect Donald Trump says he plans to create a new agency called the External Revenue Service to collect tariffs and other revenues from foreign nations.

Taking to social media platform Truth Social, Trump said, '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,

Trump said in a social media post he would create the department on Jan. 20, the day he takes office as president for a second term, adding that Americans have been taxed for too long by the Internal Revenue Service.

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

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