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

Russia countered United States President Donald Trump’s tariff threat against BRICS while claiming the group has no intention to dethrone the US dollar. BRICS — a group of emerging economies including Brazil,

Russia warned that U.S. efforts to enforce dollar use could backfire. The BRICS nations, while discussing a common currency, are unlikely to replace the dollar, as Trump threatens 100% tariffs on countries attempting to do so amid U.