President Donald Trump on Thursday warned off BRICS member countries from replacing the U.S. dollar as a reserve currency by repeating a 100%-tariffs threat he had made weeks after winning the November presidential elections.

President Trump doubled down on his tariff threats against Canada, Mexico and China saying they will start in ten days in the hopes that it will force the countries to renegotiate trade deals. The president has set a February 1 deadline for levying 25% tariffs on Canada and Mexico unless,

The Kremlin on Friday noted a repeat threat by U.S. President Donald Trump to impose tariffs on the BRICS grouping of countries if it created its own currency, but said there were no such plans. Trump on Thursday warned off BRICS member countries from replacing the U.

U.S. President Donald Trump has reiterated his threat to impose 100% tariffs on BRICS nations if they try to replace the U.S. dollar as a reserve currency, ahead of his decision to impose 25% duties on Canadian and Mexican goods this weekend.