President-elect Donald Trump said he would create an “External Revenue Service” tasked with collecting tariffs on foreign imports, the latest indication that the Republican aims to carry out his promises for sweeping trade levies when he retakes office.

U.S. President-elect Donald Trump said on Tuesday he will create a new government agency called the External Revenue Service "to collect tariffs, duties, and all revenue" from foreign sources as he readies new import tariffs ahead of his inauguration next week.

Donald Trump called for the creation of a new federal agency dedicated to collecting the tariffs he's threatening to impose on U.S. trading partners — but he was quickly taught there's already a government entity that does that.