President-Elect Donald Trump says he wants to protect the U.S. dollar from the rise of an alternative currency that does not exist and that few analysts take seriously.

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.

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,