The designated US President Donald Trump has announced the establishment of a new federal agency dedicated to the collection of tariffs and other income from abroad. The "External Revenue Service" (ERS) will be created by decree on the first day of his term, January 20, Trump declared on Tuesday on Truth Social.

Trump justified the move with the necessity to "protect American interests and distribute burdens more fairly." The USA had favored other countries through "weak trade agreements" while taxing itself, according to Trump. In the future, those who have benefited from the US market would have to pay.

The Republican reaffirmed his plans for a comprehensive tariff regime. A general import tax of 10 percent on all goods from abroad is planned, while imports from China will be subject to 60 percent. Canada and Mexico, two of the largest trading partners of the USA, also face 25 percent tariffs unless they take more effective action against migration and drug trafficking at the US borders.

The announcement is likely to cause worldwide concern. Experts warn of significant impacts on global trade flows. The threatened tariffs could massively increase import costs and lead to retaliatory measures by affected countries, which would in turn burden US exports.

The name of the new agency is based on the Internal Revenue Service (IRS), the U.S. federal tax authority. However, details about the organization and the operational tasks of the ERS remain unclear. Trump's transition team has not commented on it so far.

The plans underscore the protectionist agenda of the future president, which already played a central role in the election campaign. Whether the ambitious measures can actually be implemented and what long-term consequences they will have for the US economy remains to be seen.