President-elect Donald Trump has warned he will impose 100% tariffs on nine nations within the BRICS alliance if they pursue plans to create a currency to rival 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,” Trump wrote on Truth Social Saturday.

The BRICS bloc includes major economies such as China, Russia, Brazil, India, and South Africa, along with newer members Iran, Egypt, Ethiopia, and the United Arab Emirates. Leading figures within the bloc have floated the idea of creating a shared currency to reduce reliance on the U.S. dollar, though disagreements among members have delayed progress.

In his post, Trump called for a commitment from BRICS nations not to pursue a rival currency. “We require a commitment from these countries that they will neither create a new BRICS currency nor back any other currency to replace the mighty US dollar, or they will face 100% tariffs and should expect to say goodbye to selling into the wonderful US economy,” he wrote, adding, “They can go find another sucker.”

During his campaign, Trump promised to use tariffs as a cornerstone of his trade strategy and has recently escalated threats of steep levies. Some allies view these moves as a negotiating tactic.

Republican Senator Ted Cruz, speaking on CBS News’ Face the Nation, emphasized the “importance of leverage,” pointing to past examples where the threat of tariffs spurred action from trading partners.

“You look at the threat of tariffs against Mexico and Canada—it immediately produced action,” Cruz said.

Trump’s comments come just days after Canadian Prime Minister Justin Trudeau made an unscheduled visit to Trump’s Florida estate, Mar-a-Lago, reportedly to address a proposed 25% tariff on Canadian goods.

Trump’s nominee for Treasury Secretary, Scott Bessent, has also framed the president-elect’s tariff threats as part of a broader strategy. “My general view is that, at the end of the day, he’s a free trader,” Bessent told the Financial Times before his nomination. “It’s escalate to de-escalate.”

The president-elect’s aggressive rhetoric underscores his intention to reshape global trade dynamics as he prepares to take office on January 20. While critics worry about the potential for trade wars, Trump’s allies argue the strategy aims to strengthen the U.S. economy and maintain the dollar’s dominance in global markets.