After his 100% tariffs warning to Brics nations, some economists say the president-elect risks accelerating the pursuit of alternatives to the greenback.

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.

While China could offset American tariffs by letting its currency fall, that might endanger Beijing’s recent efforts to stabilize the economy.

Donald Trump warned of 100% tariffs on BRICS nations — composed of Brazil, Russia, India, China and South Africa — should they develop a new currency to compete with the U.S. dollar. “The idea that the BRICS countries are trying to move away from the dollar while we stand by and watch is over,

President-elect Donald Trump on Saturday warned the BRICS nations they will face a 100% tariff in U.S. domestic markets if they proceed with plans to create a new currency to compete with the dollar.

The Kremlin said on Monday that any U.S. attempt to compel countries to use the dollar would backfire after U.S. President-elect Donald Trump threatened to impose tariffs on BRICS countries if they created their own currency.

The BRICS alliance is a bloc of nine countries that in recent years looked to reduce dependence on the U.S. dollar.

Trump threatened a 100% tariff on nine nations that make up BRICS, including Brazil, Russia, and India. It would impact many goods the US imports.