U.S. President-elect Donald Trump on Saturday demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the United States dollar or face 100% tariffs.

His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates.

President-elect Trump warned nations to forego efforts to adopt a new currency on Saturday by threatening to impose a 100 percent tariff on countries that try to undervalue the U.S. dollar. “We