President Donald Trump is advancing his vision to eliminate the Internal Revenue Service (IRS), shifting the burden of federal revenue away from hardworking Americans and onto foreign corporations. Commerce Secretary Howard Lutnick outlined the plan during an interview on Fox News, explaining how Trump intends to replace income taxes with tariffs and duties collected from businesses operating under foreign flags.

Trump’s proposal involves dismantling the IRS and replacing it with an External Revenue Service, which would oversee tariffs and trade duties rather than collect taxes from US citizens. According to Lutnick, this shift would ensure that companies benefiting from America’s markets finally contribute their fair share.

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One key target is the shipping industry. Lutnick pointed out that cruise ships and supertankers often register in countries like Panama and Liberia to avoid paying US taxes, despite profiting from American consumers. Under Trump’s plan, these companies would face new fees, helping to reduce the tax burden on individuals.

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Foreign alcohol imports have also been identified as a loophole in the current system. Lutnick noted that while American-made products are taxed, many foreign competitors enter the market without paying comparable duties. Trump’s reforms would ensure that all imported goods contribute to federal revenue.

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In addition to reworking the tax structure, Trump has already taken steps to impose tariffs on key imports. New duties have been announced on products from Canada, Mexico, and China, with some rates as high as 25%. While foreign leaders have pushed back, the administration insists these measures are necessary to protect American jobs and industry.

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Elon Musk’s Department of Government Efficiency (DOGE) has begun reviewing the IRS’s operations, signaling that major changes are on the horizon. The agency has been criticized for years for its inefficiency and political targeting, making it a prime candidate for restructuring under Trump’s leadership.

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