Bloomberg reported that Trump posted on Truth Social on Tuesday (January 14): “I will create the Foreign Revenue Service to collect our tariffs and all income from overseas. We will start charging those who make money from us through trade. "

Trump did not provide details, and it was unclear whether he planned to create a new government agency or strengthen certain functions of existing government agencies. The organizational restructuring requires congressional approval.

Tariffs are currently collected by Customs and Border Protection, with money deposited into the Treasury Department's general fund. Tariffs contribute less than 2% of U.S. federal revenue.