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.

In a post on Truth Social Saturday, President-elect Donald Trump said he would impose a 100% tariff on the BRICS geopolitical coalition of non-Western countries if the group moves away from trading using the U.

President-elect Donald Trump on Saturday warned the BRICS nations they will face a 100% tariff in U.S. domestic markets if they proceed with plans to create a new currency to compete with the dollar.

While China could offset American tariffs by letting its currency fall, that might endanger Beijing’s recent efforts to stabilize the economy.

At a Brics summit in October, countries discussed boosting non-dollar transactions and strengthening local currencies. Read more at straitstimes.com.

BRICS members and other developing nations say they are fed up with America’s dominance of the global financial system.

US President-elect Donald Trump warned the so-called BRICS nations that he would require commitments that they would not move to create a new currency as an alternative to using the US dollar and repeated threats to levy a 100% tariff.

"We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face

President-elect Trump on Saturday threatened to impose 100% tariffs against emerging markets that try to shift away from the U.S. dollar in international trade. Why it matters: The threat against the BRICS nations (primarily Brazil,