President Trump announced his plan for a federal agency called the “External Revenue Service” to handle the collection of tariffs and fees from other nations. Trump had previously stated he would charge a universal tariff of 10% to 25% to all nations and up to 60% for China on exports. The agency would eventually replace the Internal Revenue Service as the federal government would be funded through tariffs, not from its citizens.
The plan would need to be approved by Congress, but the Republicans already control the House and Senate. If the plan were to come to fruition, it would result in a surge in consumer spending and saving as taxpayers would get to keep up to 37% of their income that would have gone to the IRS. Here are three stocks that would benefit if the External Revenue Service (ERS) became a reality.
