A senior trade official cautions Chinese companies to not invest there if they only want to mask their merchandise's country of origin.

Trump threatened the trade bloc with 100-percent tariffs should it attempt to create its own form of currency to undermine the U.S. dollar.

The BRIC alliance — consisting of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates — has been looking to reduce dependency on the dollar as the countries tire of U.S. dominance over the global financial system, according to CNBC .