Donald Trump warned of 100% tariffs on BRICS nations — composed of Brazil, Russia, India, China and South Africa — should they develop a new currency to compete with the U.S. 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 has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States.

President-elect Donald Trump is threatening 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar

"We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face

Gold eased, pressured by a rising US dollar after President-elect Donald Trump warned the so-called BRICS nations that he would require commitments that they would not move to create a new currency.

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.

Donald Trump's remarks follow a BRICS meeting last month that discussed boosting non-dollar transactions and strengthening local currencies.