President-elect Donald Trump said he would require countries that are part of BRICS — a China- and Russia-backed group of emerging economies — to commit to not creating new currency or face 100% tariffs during his administration. “The idea that the ...

President-elect Trump on Saturday threatened the developing countries known the the BRICS bloc with "100% tariffs" if they try to move away or replace the dollar.

Trump is threatening 100% tariffs against a bloc of nine nations including Brazil, Russia, India, China and South Africa if they act to undermine the U.S. dollar.