Trump is threatening 100% tariffs against a bloc of nine nations including Brazil, Russia, India, China and South Africa if they act to undermine the U.S. dollar.

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.

The BRICS alliance is a coalition of non-Western countries that convened for the first official BRIC summit in 2009, with Brazil, Russia, India and China joining the informal group. South Africa joined a year later, cementing the BRICS name. At a 2023 ...