President Donald Trump reiterated his threat of 100% tariffs against BRICS nations, demanding that they pledge not to challenge the U.S. dollar.

President Trump vowed to impose tariffs of up to 100 percent on countries that back a new reserve currency among the BRICS countries, a group that includes Russia and China. Trump’s Truth

(Reuters) - 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.

BRICS doesn’t plan to create a new common currency to replace the dollar, Kremlin spokesman Dmitry Peskov said.

In a post shared on social media platform Truth Social, Trump declared that the United States would not stand idly by while the BRICS bloc pursues the development of an alternative currency.

Trump had previously threatened 100 percent tariffs on BRICS nations -- a bloc including Brazil, Russia, India, China and South Africa -- if they create a rival to the US dollar, which he doubled down on Thursday night.

Brazilian President Luiz Inacio Lula da Silva said Thursday that if US counterpart Donald Trump hiked tariffs on Brazilian products, he would reciprocate -- but that he would prefer improved

Brazilian President Luiz Inacio Lula da Silva called on Donald Trump to "respect" Brazil. He also called Trump's decision to withdraw the US from the Paris climate accords a "step back for human civilization.