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Jan 15, 2025 5:37 PM - Connect Newsroom

President Donald Trump Set to Move Ahead with Tariffs

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The agency is being established to address issues such as trade imbalances, illegal immigration, and drug trafficking.(Photo: The Canadian Press)

Incoming U.S. President Donald Trump is moving forward with plans to implement tariffs and create a new federal agency called the External Revenue Service. This agency will handle the collection of tariffs, duties, and revenues from foreign sources.

The agency is being established to address issues such as trade imbalances, illegal immigration, and drug trafficking. It is expected to put pressure on countries like Canada, Mexico, and China. Trump also plans to increase tariffs on products from multiple nations, including China, and may soon announce further hikes on goods imported from other countries.

Trump emphasized that the U.S. will begin charging those who profit from trade with the country. The External Revenue Service is set to be officially established on January 20, 2025.

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