WASHINGTON

President-elect Donald Trump announced Tuesday his plans to create an "External Revenue Service" aimed at charging those who profit from trade with the United States.

"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, the American Economy has delivered growth and prosperity to the World, while taxing ourselves," Trump said on Truth Social.

"It is time for that to change. I am today announcing that I will create the EXTERNAL REVENUE SERVICE to collect our Tariffs, Duties, and all Revenue that come from Foreign sources. We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share," said the president-elect.

Trump also stated that the inauguration day, when he will officially assume office as the 47th president, will mark the establishment of the news department.