This is the Weekend Edition of Bloomberg Opinion Today, a roundup of the most popular stories Bloomberg Opinion publishes each week based on web readership. New subscribers can sign up here; follow us on Bluesky, TikTok, Instagram, LinkedIn and Threads.

From Ottawa to Beijing, President Donald Trump’s trade war has made many enemies. But it has also won America some allies. Asia’s richest tycoon is preparing to welcome US cargo originally meant for China but rerouted to India. The ship Mukesh Ambani is waiting for is laden with ethane.

This colorless, odorless component of natural gas is shipped in liquefied form in special carriers such as STL Qianjiang, which is currently on its way from the US Gulf Coast to billionaire Ambani’s terminal in Dahej, Gujarat, on India’s western seaboard. There, his flagship Reliance Industries Ltd. has an ethane cracker to produce ethylene, a key building block of plastic products.

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The Deep Thinker Rising Through a Shallow Pentagon — Andreas Kluth

India’s Jane Street Options Trade Was Too Good — Matt Levine

No, the Government Can’t Just Take Away Your Citizenship — Noah Feldman

Israel Is Now Peerless in the Middle East and Markets — Matthew A. Winkler

Brazil’s Lula Just Got a Huge Gift From the White House — Juan Pablo Spinetto

The Texas Floods Were Made Worse by Climate Denialism — Michael R. Bloomberg

America, This Isn’t How You Lower Interest Rates — Bill Dudley

ICE Doesn’t Need Another $100 Billion — Patricia Lopez

Someone Will Look Dumb in the $9 Billion AI Merger — Chris Hughes

• World leaders are reviving medieval insults — and not in a good way, says Adrian Wooldridge.
• Indian billionaire Mukesh Ambani’s pivot to US energy supply could replace Chinese buyers, says Andy Mukherjee.
• Harvard Law professor Noah Feldman explains why the government can’t just take away your citizenship.
• Why are immigration laws disobeyed? Because there’s a consensus they should be, says Clive Crook.

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