After his 100% tariffs warning to Brics nations, some economists say the president-elect risks accelerating the pursuit of alternatives to the greenback.

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.

Trump says the US will no longer stand and watch while BRICS countries are trying to move away from the dollar. He is quoted as saying that 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 warned BRICS nations of 100% tariffs over plans for a new currency to challenge the US dollar. DW examines why these economies are taking on the world’s reserve currency.

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.

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

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,

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.