US President Donald Trump’s aggressive and unpredictable tariff strategy is beginning to redraw global trade alignments, with long-standing US partners actively seeking alternatives — and China emerging as a key beneficiary.Canada delivered the clearest signal yet of this shift on Friday, cutting its 100% import tax on Chinese electric vehicles in exchange for sharply lower Chinese tariffs on Canadian farm exports, especially canola seeds. The move marks a striking departure from Ottawa’s earlier alignment with Washington on China trade.

“It’s a huge declaration of realignment in Canada’s economic relations,” said Edward Alden, senior fellow at the Council on Foreign Relations. “The economic threat from the United States is now perceived by Canadians as far bigger than the economic threat from China. So this is a big deal.’’

Allies look beyond US market

Canada is not alone. As Trump imposes sweeping tariffs on imports from nearly every country — alongside targeted levies on sectors such as steel and automobiles — major economies are accelerating efforts to reduce dependence on the US market.The European Union is expected to formally sign a trade pact with the Mercosur bloc, comprising Brazil, Argentina, Uruguay, Paraguay and Bolivia, while also pursuing a trade agreement with India. China, hit by US tariffs since Trump’s first term, has quietly diversified exports toward Europe and Southeast Asia.That strategy appears to be paying off. Despite a sharp fall in exports to the US, China reported a record $1.2 trillion trade surplus with the rest of the world in 2025, according to official data released this week.Since returning to the White House in January, Trump has overturned decades of US trade policy by imposing double-digit tariffs on imports from almost all countries. He argues the measures will raise revenue, protect domestic industries and force manufacturing back to the US.Yet the application of tariffs has often appeared arbitrary. Trump has threatened countries over political disputes — including Brazil over the prosecution of former president Jair Bolsonaro — and on Friday warned of tariffs against nations opposing his push to wrest control of Greenland from Denmark.

Why Canada pivoted to Beijing

Canada’s agreement with China represents a reversal of its 2024 decision to impose 100% tariffs on Chinese EVs, mirroring US concerns that low-cost Chinese vehicles could swamp North American automakers.The economic logic, however, is compelling. China cut tariffs on Canadian canola from 84% to 15%, a major relief for farmers who rely heavily on export markets.At the same time, Trump’s retreat from green-energy priorities has altered calculations in Ottawa. “The Trump administration, favoring fossil fuels over green energy, is actively hostile to EV production in North America,” said economist Mary Lovely of the Peterson Institute for International Economics.“China’s strengths in electric vehicle sector are undeniable,” Canadian Prime Minister Mark Carney said Friday. “China produces some of the most affordable and efficient energy efficient vehicles in the world… to build our own competitive EV sector, we need to learn from innovative partners.”Still, the shift is politically risky. Relations between Ottawa and Beijing have been strained since 2018, when China detained two Canadians after Canada arrested a Huawei executive at Washington’s request. Domestic opposition has also surfaced, with Ontario Premier Doug Ford warning the deal could hurt Canadian autoworkers.“Make no mistake: China now has a foothold in the Canadian market and will use it to their full advantage at the expense of Canadian workers,” Ford said in a social media post.Carney countered that the deal is limited, allowing China to export 49,000 EVs at a reduced tariff initially, rising to about 70,000 in five years.

USMCA risks loom large

The biggest uncertainty lies south of the border. The US-Mexico-Canada Agreement (USMCA) comes up for renewal this year, and Trump is expected to demand changes to shift manufacturing to the US — or potentially threaten withdrawal altogether.Canada sends 75% of its goods exports to the United States, making any rupture economically perilous.“This will make the talks more complicated,” said William Reinsch of the Center for Strategic and International Studies. “Trump will not be pleased… and will certainly make it an issue in the USMCA talks.’’Trump struck a conciliatory note on Friday, saying: “If you can get a deal with China, you should do that.” Carney, for his part, noted the agreement with Beijing is preliminary, leaving room for adjustments if tensions escalate.For now, analysts say the message is unmistakable. “It sends a big signal that Canada is looking to other partners and has options,” Lovely said, “and would rather walk away from USMCA than make humiliating compromises that serve only American interests.”

NEW DELHI: India has stepped up diplomatic engagement with Iran seeking consular access and early resolution for the case of 16 Indian crew members on board a merchant vessel detained by Iranian authorities in December last year, the Indian embassy in Tehran said.In a press release on Saturday, the embassy said it was informed around mid-December 2025 about the detention of MT Valiant Roar. The Consulate of India in Bandar Abbas wrote to the Iranian government on December 14 seeking consular access to the crew and has since followed up through diplomatic correspondence and in-person meetings in Bandar Abbas and Tehran, including at the level of the ambassador. “The Iranian authorities were also requested to allow the crew to communicate with their families in India,” the embassy said.The mission said it contacted the UAE-based ship-owning company on December 15 and has remained in touch with its Iran-based agents to ensure food, water and fuel supplies for the vessel, besides pressing for legal representation for the crew in Iranian courts. After being informed of depleting provisions, the mission intervened with the Iranian navy, which arranged emergency food and water supplies in early January.The Indian consulate in Dubai has also been engaging the ship-owning company to ensure regular provisioning and legal support, the embassy said, adding that the case is expected to go through Iran’s judicial process.“However, the Mission and the Consulate continue to press the Iranian authorities to grant early consular access to the crew, and to ensure expeditious completion of the judicial proceedings,” the statement said.Earlier in the day, the father of one of the detained crew members appealed to Indian authorities for urgent intervention. Mukesh Mehta said his son Ketan, a third engineer on board the tanker operated by Prime Tanker LLC, Dubai, was among those detained after the vessel was intercepted at Bandar Abbas port, reported PTI. He said the family has been living in constant anxiety since learning of the detention and appealed to the government, Prime Minister Narendra Modi, the ministry of external affairs and the Directorate General of Shipping to take immediate diplomatic steps to secure the crew’s release.Iran on December 13 had seized an oil tanker in the Gulf of Oman, claiming it was carrying six million litres of diesel fuel and had 16 crew members from India on board.Iran has frequently announced the boarding of vessels it accuses of illegally transporting fuel, citing smuggling concerns amid low domestic fuel prices. Authorities have denied that such seizures are retaliatory actions against other countries.The Gulf of Oman and the Strait of Hormuz remain critical maritime chokepoints, handling nearly 20 per cent of global oil trade, with heightened tensions continuing amid increased regional naval activity and geopolitical friction.

Perth Scorchers delivered a clinical all-round performance to register a comfortable six-wicket victory over the Melbourne Stars in Match 39 of the Big Bash League (BBL) 2025–26 season at Perth Stadium. After opting to bowl first, the Scorchers dismantled the Stars’ batting lineup before chasing down the modest target with ease, riding on a blistering innings from Finn Allen.

Melbourne Stars stumble after promising start

Melbourne Stars never truly settled after being put in to bat. Early wickets set the tone as Sam Harper and Joe Clarke fell cheaply, leaving the visitors under pressure inside the powerplay. Although Tom Fraser Rogers showed brief intent, the Stars kept losing wickets at regular intervals, preventing any meaningful partnerships from developing.

The lone resistance came from Marcus Stoinis, who anchored the innings with a well-compiled 55 off 39 deliveries. His knock, featuring five boundaries and two sixes, provided some stability amid the collapse. However, support from the other end was minimal, with Glenn Maxwell, Hilton Cartwright, and Tom Curran unable to convert their starts. The Stars were eventually bundled out for 130 in just 18.2 overs, a total that always looked below par on the Perth surface.

Jhye Richardson leads ruthless Scorchers bowling effort

Perth’s bowling attack was sharp and disciplined, led superbly by Jhye Richardson. The right-arm quick ripped through the middle order with figures of 4 for 16, consistently hitting the right lengths and extracting bounce. Cooper Connolly complemented him well with two wickets, while David Payne and Mahli Beardman chipped in to ensure the Stars never gained momentum.

The Scorchers’ bowlers collectively squeezed the run flow, forcing risky shots and capitalising on fielding pressure. Melbourne’s inability to rotate strike proved costly as wickets fell in clusters, turning a potentially competitive innings into a sub-140 total.

Also READ: Tactical genius or Team friction? Mitchell Starc weighs in on Steve Smith-Babar Azam drama in BBL|15

Finn Allen powers Scorchers to emphatic chase

In reply, Perth Scorchers were briefly tested early when Mitchell Marsh departed for 12, but Finn Allen quickly took control of the chase. The New Zealand opener unleashed a stunning display of power-hitting, smashing 69 off just 39 balls, including seven towering sixes. His aggressive approach completely deflated the Stars’ bowling plans and shifted the momentum firmly in Perth’s favour.

While wickets fell at the other end, Aaron Hardie played the perfect supporting role with a composed 41 off 37 balls. Together, Allen and Hardie ensured there were no late hiccups, guiding the Scorchers to 134 for 4 in 16.5 overs. Haris Rauf was the standout bowler for the Stars with three wickets, but the target proved too small to defend.

Perth Scorchers got the better of Melbourne Stars 💪#BBL15 pic.twitter.com/40buXISyp2

— CricketTimes.com (@CricketTimesHQ) January 17, 2026

Also READ: Steve Smith reveals the reason behind not trusting Babar Azam for ‘power surge’ during the BBL|15 game

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Sunjay Kapur, Priya Sachdev Kapur with family (File photo)

NEW DELHI: The legal battle over the estate of late industrialist Sunjay Kapur has intensified after his wife, Priya Sachdev Kapur, filed a criminal defamation complaint against his sister, Mandhira Kapur Smith, and another individual.She alleged that a series of statements by her sister-in-law—spread across podcasts, social media, media interviews, and republished online content—amount to a “sustained and deliberate campaign to damage my reputation.”The complaint, filed before the Additional Chief Judicial Magistrate at Delhi’s Patiala House Courts, contended that Mandhira Kapur Smith’s remarks contain “false assertions, insinuations and personal attacks presented as established facts, despite the issues being sub judice, thereby causing serious reputational harm.”Priya Kapur’s lawyer Maninder Singh submitted that such conduct “squarely attracts the offence of criminal defamation under the applicable law.”The filing of the defamation case follows recent developments in related proceedings, in which the court sought a response from actor Karisma Kapoor, Sunjay Kapur’s former wife, on a plea filed by Priya Kapur seeking certified copies of divorce-related court records involving the late industrialist.Amid this backdrop, Mandhira Kapur Smith made public remarks to the media questioning Priya Kapur’s “conduct and motives.”She stated that if her brother had intended to share certain information, he would have done so during the marriage, and added that divorce proceedings are confidential, especially when children are involved.Priya Kapur has alleged that these statements are part of the “defamatory material” cited in her complaint and has approached the court seeking criminal action for the alleged damage to her reputation.Sunjay Kapur passed away in June last year at the age of 53 after collapsing during a polo match in the UK. His first marriage was to designer Nandita Mahtani, and at the time of his death, his net worth was estimated at around $1.3 billion (Rs 10,300 crore).Priya Kapur was previously married to hotelier Vikram Chatwal. (With ANI inputs)

MUMBAI: HDFC Bank reported an 11.46% year-on-year increase in net profit to Rs 18,653.75 crore in Q3 FY26 from Rs 16,735.50 crore a year earlier, on the back of treasury profits with loan growth and stable asset quality supporting earnings, even as operating costs rose sharply.On a sequential basis, profit was largely flat, inching up 0.07% from Rs 18,641.28 crore in the September quarter. Asset quality remained strong. Gross non-performing assets improved to 1.24% from 1.42% a year earlier, while net NPAs declined to 0.42% from 0.46%. Net interest margin was stable at 3.35% compared to 3.27% in the previous quarter.The balance sheet crossed the Rs 40 lakh crore mark during the quarter, with total assets rising to Rs 40,88,987 crore. Total advances grew 12.04% year on year to Rs 28,21,446 crore, while deposits increased 11.56% to Rs 28,60,055 crore. The CASA ratio stood at 33.6%. The credit-to-deposit ratio remained elevated at about 98.6%, reflecting continued strong credit deployment relative to deposit growth.Total income surged 33.42% from a year earlier to Rs 90,005 crore. Net interest income stood at Rs 32,615 crore, up 6.4% year on year, while other income rose 15.72% to Rs 13,253.84 crore, driven by treasury performance.Treasury profit rose 144% to Rs 2,227.60 crore from Rs 924.51 crore a year ago. Miscellaneous income, including recoveries from written-off accounts and banking charges, also contributed to the growth in non-interest income.Operating expenses climbed 63% year on year to Rs 18,771.04 crore, reflecting higher employee costs of Rs 7,203.17 crore and an estimated Rs 800 crore impact from the implementation of new labour codes. Despite this, the cost-to-income ratio stood at about 20.8% based on total income. Provisions and contingencies declined 10.02% from a year earlier to Rs 2,837.86 crore.

Babar Azam of Sydney Sixers (Photo by Ayush Kumar/Getty Images)

The Big Bash League 2026 was meant to be a stage for Pakistan’s biggest batting stars to showcase their skills in the shortest format of the game. Instead, it has turned into an uncomfortable spotlight. Babar Azam and Mohammad Rizwan now sit at the very top of an unwanted list. Thus far, they are officially the slowest batters of the season among players who have faced at least 120 deliveries. Rizwan leads the list with a strike rate of 102.74. Babar follows closely at 107.48. In a tournament built on relentless aggression, those numbers stand out for all the wrong reasons. Young batter Konstas (110.21) and Australia’s Tom Rogers (127.50) trail behind.

While Babar has amassed 201 runs in nine appearances with an average of 28.71 so far this season, Rizwan has managed to score only 187 in 10 innings with an average of 18.7. Babar’s struggles came into sharp focus during Sydney Sixers’ clash against Sydney Thunder at the SCG. The incident that grabbed attention involved teammate Steve Smith. Ahead of the Power Surge, Smith refused a simple single as he wanted to keep the strike. Babar, left stranded mid-pitch on 47, was visibly furious. Smith took the decision not to go for a run as Babar could only yield two runs from that over. Keeping the strike, Smith unleashed a stunning counterattack, having smashed 32 runs in the next over, the highest-scoring over in BBL history.Babar’s night ended soon after. Attempting to shift gears, he was bowled by Daniel McAndrew off an inside edge. He slammed the boundary cushions with his bat while walking off the pitch. His 47 came off 39 balls, with seven 4s, but the tempo of his innings raised questions.Rizwan’s recent case was even harsher. Playing for Melbourne Renegades, he struggled to accelerate against Sydney Thunder. He scored 26 off 23 balls. With the innings slipping away, the Renegades made a bold call. Rizwan was retired out, and it was a first. No overseas player in BBL history had faced that fate before. Captain Will Sutherland replaced him at the crease.