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.

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,

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.

Officials, including Russian President Vladimir Putin, Chinese President Xi Jinping and Egyptian President Abdel Fattah al-Sisi, are seen through television cameras during a plenary session in the outreach/BRICS Plus format at the BRICS summit in Kazan,

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

The president-elect's threat comes just days after he threatened big tariffs on Mexico, Canada and China. Experts warn of higher prices.

"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