{"name":"External Revenue Service","symbol":"ERS","description":"\r\nPresident-elect Donald Trump has announced plans to establish an \"External Revenue Service\" (ERS) aimed at collecting tariffs, duties, and all revenue from foreign sources. Here is a summary of the plan based on current information:\r\n\r\nPurpose: The ERS would shift the focus from domestic taxation to collecting revenue from international trade. Trump has criticized U.S. trade agreements as \"soft and pathetically weak,\" suggesting that the American economy has disproportionately benefited the world while taxing its own citizens.\r\nCreation: Trump intends to establish this new entity on January 20, 2025, coinciding with his inauguration for a second term. The creation of such an agency typically requires Congressional approval, but Trump's plans might involve executive orders or restructuring existing departments like the Treasury Department.\r\nTariff Policy: Trump's campaign included promises of imposing tariffs as high as 10-20% on all imported goods, with up to 60% on Chinese imports. The ERS would manage the collection of these tariffs, which are currently handled by U.S. Customs and Border Protection (CBP).","image":"https://cdn.dexscreener.com/cms/images/Cf1MDIUfIekuKl5_","websites":[{"url":"https://www.whitehouse.gov/presidential-actions/2025/01/america-first-trade-policy/","label":"Website"}],"socials":[{"url":"https://x.com/its_The_Dr/status/1883190050470719703","type":"twitter"}]}