United States President-elect, Donald Trump has threatened to impose 100% tariffs on the bloc of countries known as BRICS countries if they try to replace or move away from the U.S. dollar. The bloc is made up of Brazil,

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.

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

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.

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 require a commitment from these Countries that they will neither create a new BRICS Currency,