Trump vows to “immediately begin the overhaul of our trade system”

Donald Trump vowed on Monday to “immediately begin the overhaul of our trade system to protect American workers and families” as the 47th president of the United States.

“We will tariff and tax foreign countries to enrich our citizens,” Trump said during his inaugural address. “For this purpose, we are establishing the External Revenue Service to collect all tariffs, duties and revenues.”

He added that this will bring in “massive amounts of money” to the country’s treasury “coming from foreign sources.”