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.

US President-elect Donald Trump has threatened to impose 100% tariffs on a bloc of nine nations if they were to create a rival currency to the US dollar. "The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,

President-elect Donald Trump railed on social media over the weekend against a group of emerging economies for their attempts to circumvent the dollar. While markets mostly took Trump's words in stride,