In his latest trade-related tirade, President-elect Donald Trump has set his sights on a group of emerging-market countries collectively known as the “BRICS.”

MOSCOW (Reuters) -The Kremlin said on Monday that any U.S. attempt to compel countries to use the dollar would backfire after U.S. President-elect Donald Trump threatened to impose tariffs on BRICS countries if they created their own currency.

The WSJ Dollar Index rises 0.6% as markets react to President-elect Trump's threat to slap 100% tariffs on Brazil, Russia, India, China and South Africa. He wants the BRICS countries to drop plans to create a common currency to compete with the dollar,