At a Glance
- Trump’s 2024 tariff threats remain largely unimplemented.
- The promised External Revenue Service has not launched.
- Key unfulfilled levies include 200% wine tax, 100% film tariff, and 100% pharma tariff.
- Why it matters: Consumers and businesses face uncertainty as trade policy stalls.
President Donald Trump has repeatedly announced sweeping tariff measures since taking office, yet most of those promises have yet to materialize. As 2025 approaches, the administration still has no External Revenue Service and key levies on wine, film, pharmaceuticals, chips, and a $2,000 dividend remain unrealized.
The External Revenue Service: Still on Hold
Trump’s Jan. 14 social media post declared the launch of an External Revenue Service on Jan. 20, 2025, to collect all tariff revenue. The White House has reiterated the plan, but the entity does not yet exist as of December.
President Trump announced:
> ‘For far too long, we have relied on taxing our Great People using the Internal Revenue Service … We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share. January 20, 2025, will be the birth date of the External Revenue Service.’
President Trump said in his inaugural address:
> ‘We are establishing the External Revenue Service to collect all tariffs, duties, and revenues. It will be massive amounts of money pouring into our Treasury, coming from foreign sources.’
Tariff Promises That Haven’t Materialized
Several high-profile tariff threats were announced but never enacted. The administration’s plans for steep levies on wine, film, pharmaceuticals, chips, and a dividend check remain pending.
| Category | Promised Tariff | Status |
|---|---|---|
| Wine | 200% on EU wines | Not imposed |
| Film | 100% on foreign films | Not imposed |
| Pharmaceuticals | 100% on branded drugs (Oct 1 2025) | Not imposed |
| Chips | 100% on chips, exempt if built in US | Not imposed |
| Dividend | $2,000 per person | Not paid |
EU-US Trade Developments
The EU’s planned 50% tariff on American whiskey was delayed until at least February, and the summer trade deal capped most European imports at 15%.
Conclusion
Until the administration implements these measures, the promised revenue streams and trade protections remain speculative, leaving businesses and consumers in limbo.
Key Takeaways
- The External Revenue Service has not been established.
- Major tariff threats, including 200% wine tax and 100% film levy, remain unimplemented.
- EU-US trade agreements have moderated some of the promised tariffs.
