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.

Kremlin spokesman Dmitry Peskov, commenting on U.S. President-elect Donald Trump's threat to impose tariffs on BRICS countries if they create their own currency, said on Monday that any U.S. attempt to compel countries to use the dollar would backfire.