Finance chiefs of G20 countries were close to agreeing a common position on trade and other global challenges on Friday, which would be the first since U.S. President Donald Trump's election victory and tariff war.

South African central bank chief Lesetja Kganyago flagged that dollar depreciation because of US tariffs and deflation in China are clouding the outlook for inflation locally ahead of a rate-setting meeting at the end of the month.

South Africa calls for cooperative leadership at the G20 meeting, emphasizing the need for solidarity in tackling challenges like rising trade barriers. The forum, historically plagued by disputes, faces additional strain from Russia's war in Ukraine and tariff threats from the Trump administration.