After proposing new tariffs against Mexico and Canada last week, President-elect Donald Trump is now threatening a "100% tariff" against BRICS nations — Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates (UAE) — if they were to attempt to undermine the strength of the US dollar. "Trump wants to squeeze China where he can both directly or indirectly… But at the same time, you know, he wants to make sure that other countries stick with the dollar that is extremely important," Tematica Research Chief Investment Officer Chris Versace tells Yahoo Finance. "He’s been very vocal about that. So I see this more as kind of a comprehensive approach, more than anything." Versace tells Seana Smith and Madison Mills that it’s still too early to react to Trump’s trade policy proposals before he’s even in office, steering Wall Street’s focus back to this Friday’s November jobs report ahead of the Federal Reserve’s next FOMC meeting in two weeks.
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