President-elect Trump on Saturday threatened the developing countries known the the BRICS bloc with "100% tariffs" if they try to move away or replace the dollar.

The proposed tariffs would remain until those nations commit to not backing a new currency to replace the dollar, Trump said.

BRICS, which is an acronym for Brazil, Russia, India, China, and South Africa, is an economic and geopolitical bloc whose power has grown in recent years.