President-elect Donald Trump says he wants to protect the U.S. dollar from the rise of an alternative currency that does not exist and that few analysts take seriously.

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.

In his latest trade-related tirade, President-elect Donald Trump has set his sights on a group of emerging-market countries collectively known as the “BRICS.”