Over the weekend, President-elect Donald Trump threatened to wage a possible "100% tariff" against BRICS countries — which is composed of Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates (UAE) — if they attempt to undermine the US dollar with a new currency.

Yahoo Finance Washington correspondent Ben Werschkul lays out Trump's tariff policy plans to deter a possible inception of an international payment system between these countries, being dubbed "BRICS Pay,"

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This post was written by Luke Carberry Mogan.