President-elect promises to create External Revenue Service to collect tariffs. But will the ERS also impact your spending power?

President-elect Donald Trump has announced his plan to create a federal body charged with taxing and collecting taxes from U.S. trade partners.

U.S. Treasury Secretary Janet Yellen said on Wednesday U.S. President-elect Donald Trump's plan to set up a new government agency to collect tariffs would duplicate an existing agency and was unlikely to save money.

The new budget forecasts predicted that the United States will record a $1.9 trillion budget deficit this fiscal year and that annual deficits over the next decade will total $21.1 trillion. That will be piled on to a national debt that currently exceeds $36 trillion.

The recent termination of workers in New York and Boston highlights the vulnerability of restaurant employees without legal status.

The president-elect's picks to lead EPA, State and other agencies struck a different tone toward civil servants than some former Trump officials, suggesting the administration would lean on their expertise.

U.S. Treasury nominee Scott Bessent plans to say at his confirmation hearing that President-elect Donald Trump has an opportunity to unleash “a new economic golden age.”

Former U.S. Assistant Secretary of State for Economic and Business Affairs weighs President-elect Trump's plan to establish the 'External Revenue Service.'

The president-elect announced the proposed agency on his social media platform writing that the U.S. “will begin charging those that make money off of us with Trade, and they will start paying."

President-elect Donald Trump ... all foreign-sourced revenue, such as tariffs. “For far too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS).