US President-elect Donald Trump has threatened retaliation against governments that challenge the US dollar, vowing "100 percent tariffs" on countries that undercut the US currency.The system has evolved since that time and several countries have stopped indexing their currencies to the dollar,

U.S. President-elect Donald Trump on Saturday demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the United States dollar or face 100% tariffs.

His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates.