President-elect Donald Trump threatened to slap 100 percent tariffs on a group of developing countries that includes Vladimir Putin’s Russia and Xi Jinping’s China unless they commit to the U.S. dollar as their reserve currency.

US President-elect Donald Trump has threatened to impose 100% tariffs on a bloc of nine nations if they were to create a rival currency to the US dollar. "The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER," Trump wrote on social media on Saturday.

President-elect Trump warned nations to forego efforts to adopt a new currency on Saturday by threatening to impose a 100 percent tariff on countries that try to undervalue the U.S. dollar. “We require a commitment from these Countries that they will neither create a new BRICS Currency,