US President Donald Trump has said it several times before, and he has just repeated it again: India, in his view, is among the countries imposing as high as 100 per cent tariffs on American products.

The G20 leadership said it was important to improve transparency in the global financial system to prevent the misuse of such entities for illegal acts such as corruption, tax evasion, terror financing and money laundering.

The leaders of BRICS countries are expected to push for a BRICS Development Bank or South-South Bank and may set up a panel to study the nitty-gritty of setting up such an institution.