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.

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.

The proposed tariffs would remain until those nations commit to not backing a new currency to replace the dollar, Trump said.