The External Revenue Service initiative was officially given the green light at Donald Trump's inauguration ceremony on Monday, 20 January 2025, which saw him officially sworn in as the 45th president of the United States.
Source: Donald J. Trump/Facebook.
"I will immediately begin the overhaul of our trade system to protect American workers and families. Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens," Trump said.
The External Revenue Service initiative aims to implement tariffs as high as 20 percent on imports into the US.
"The External Revenue Service will collect all tariffs, duties and revenues. [There] will be massive amounts of money pouring into our Treasury, coming from foreign sources," Trump said.
Trump did not mention or go into any detail about whether an independent US Treasury division dedicated to tariff revenue will be established to implement the service.
Energy independence unleashed
In addition to US imports being subject to taxation, Trump emphasised that the country would simultaneously boost its exports, particularly of oil and gas. To support this effort, he announced the National Energy Emergency, designed to enhance US oil and gas production, lower consumer costs, and strengthen national security.
"America will be a manufacturing nation once again, and we have something that no other manufacturing nation will ever have — the largest amount of oil and gas of any country on earth — and we are going to use it. We’ll use it.
"We will bring prices down, fill our strategic reserves up again right to the top, and export American energy all over the world. We will be a rich nation again, and it is that liquid gold under our feet that will help to do it," Trump said.
The National Energy Emergency initiative includes several key actions including expanding fossil fuel production, refilling the strategic petroleum reserve; tapping into Alaska's abundant natural resources, including lifting restrictions on drilling and oil exploration in the region and reversing electric-vehicle mandates.
Key executive orders
President Donald Trump also announced:
- The declaration of a National Emergency at the US southern border aimed to address illegal immigration and the announcement of the termination of the "catch and release" policy as part of his broader strategy to halt all illegal entries at the southern border.
The "catch and release" policy refers to the practice where individuals apprehended for illegal entry into the United States are released from detention while they await their immigration court proceedings.
By ending this practice, the Trump administration intends to detain all individuals apprehended for illegal entry until their immigration cases are resolved, thereby preventing their release into the US during this period.
- The Alien Enemies Act. By invoking the Alien Enemies Act of 1798, Trump said he "will direct the government to use the full and immense power of federal and state law enforcement to eliminate the presence of all foreign gangs and criminal networks bringing devastating crime to US soil, including our cities and inner cities."
- The repeal of the New Green Deal.
Reclaiming America's interests
In addition, Trump set the intention of renaming the Gulf of Mexico to the Gulf of America. Trump announced intentions to reclaim control of the Panama Canal, citing concerns over alleged treaty violations, excessive tolls imposed on American vessels, and China's purported operational influence over the canal.
He highlighted the significant American investment in constructing the canal, referencing the loss of approximately 38,000 lives during its construction. He asserted that the canal's current management adversely affects US interests, particularly regarding shipping costs and national security.
"American ships are being severely overcharged and not treated fairly in any way, shape, or form. And that includes the United States Navy. And above all, China is operating the Panama Canal. And we didn’t give it to China. We gave it to Panama, and we’re taking it back," Trump said.
Furthermore, Trump called for reinstating and compensating military personnel "with full back pay" who were discharged for refusing the Covid-19 vaccine, framing it as an issue of fairness and respect for those serving in the armed forces.
At the peak of his speech, he added, "Together, we will end the chronic disease epidemic and keep our children safe, healthy, and disease-free."
In conclusion, Trump stated that by liberating the nation, his administration would guide it to unprecedented success and victory.
"The United States will once again consider itself a growing nation — one that increases our wealth, expands our territory, builds our cities, raises our expectations, and carries our flag into new and beautiful horizons."
Trump reiterated that his leadership would remain resolute:
"We will not be deterred."
