the us will now longer impose tariffs on colombia, after the south american nation agrees to deport migrants. the plus: the president of poland the president of poland tells the bbc that he's not in favour tells the bbc of restoring russian gas flows to western europe. to western europe. hello, and welcome to business today. i'm steve lai. i'm steve lai. the trump administration will the trump administration will no longer impose tariffs and no longer impose tariffs and sanctions on colombia, after sanctions on colombia, after the south american country the south american country agreed to accept deported agreed to accept deported migrants from the united states. both sides had slapped the south american country agreed both :ept deported the south american country 25% tariffs on each other over agreed both sides eported the south american country agreed both sides had ted the south american country agreed both sides had slapped states. both sides had slapped 25% tariffs on �* over 25% tariffs on each other over the deportation of migrants — the deportation of migrants — but the us has now backtracked on that. for the latest, let's for the latest, bring in our reporter. get us on that. for the latest, let's bring in our reporter. get us up bring in our reporter. get us up to speed with all the twists up bring in our reporter. get us up to speed twists and turns. up to speed with all the twists and turns. up to speed with all the twists up to speed with all the twists and tum-— and turns. it's escalated rather quickly, - and tum-— and turns. it's escalated rather quickly, - and turns. it's escalated rather quickly, but - and turns. it's escalated rather quickly, but it - and turns. it's escalated | rather quickly, but it also and turns. it's escalated rather quickly, but - and turns. it's escalated rather quickly, but it - and turns. it's escalated | rather quickly, but it also managed to de—escalate quickly. managed to de—escalate quickly. we still don't know what we still don't know what changed colombia's mind changed colombia's mind

because, if you actually look because, if you actually look at president petro�*s social media platforms, he's still very highly critical of mr trump in his latest post. but according to the country's foreign minister, the country has managed to overcome the impasse with washington in that row, and he's said that we will continue receiving colombians

has retaliated with a matching tariff. for how it, they have managed to avoid those escalating tariffs. of course, there were concerns that, if they were to go ahead, it could have affected inflation, because about 20% of the us coffee, for example, gets imported from colombia. so if that was to be passed on to consumers, it would have fed into inflation. and, of course, many economists have been into inflation. and, of course, many economists have been sending concerns about how mr sending concerns about how mr trump's tariffs could make trump's tariffs could make their cost—of—living crisis their cost—of—living crisis worse. worse. their cost-of-living crisis worse. . ., their cost-of-living crisis worse. ., their cost-of-living crisis worse. . ., worse. thanks for get -- getting _ worse. thanks for get -- getting _ worse. thanks for get -- getting us _ worse. thanks for get -- getting us up _ worse. thanks for get -- getting us up to - worse. thanks for get -- getting us up to speed i worse. thanks for get -- i worse. thanks for get -- getting us _ worse. thanks for get -- getting us up _ worse. thanks for get -- getting us up to - worse. thanks for get -- getting us up to speed i worse. thanks for get -- i getting us up to speed with that situation. staying with getting us up to speed with that situation. staying with with the us: tiktok�*s with the us: tiktok�*s china—based owner, bytedance, would retain a stake in the china—based owner, bytedance, would retain a stake in the company, but data collection company, but data collection and updates would be overseen and updates would be overseen by oracle. it is a big week for by oracle. it is a big week for

markets, with of course, markets, with investors eyeing the federal reserve's first policy decision of the year on thursday. their meeting comes hot on the heelsf us president trump infrastructure's comments to attendees at the world

in the united states, far ahead of its developed peers. gdp for 2024 was expected to be 2%. the reality is closer to 2.5%. so, we could argue that, actually, lower interest rate policy has provided the medicine the economy needed to kickstart — which we can't say for the european union, or the united kingdom, so the fed has done a good job. however, what i think we can talk about is that after the blowout us monthly job support earlier this month, after the blowout us monthly jobs report earlier this month, more than 250,000 jobs raided in december, markets completely dialled down their hype on fed expectations this year. should these tariffs come into play, should they impact consumer spending in the us economy, which is the highest contributor of gdp growth that impacts the everyday person on the street, and should that lead to a downside risk on economic growth this year, then yes, the fed may cut more than once in 2025.

everyone is looking at the inflation threat, but not the reality, which is the direct impact on the ground and that is the economic matter that matters to the fed. a lot of the tech giants will be releasing their numbers. what are you expecting to see? earnings are starting to slow in comparison to previous quarters, however, one of those trump plays is this — we will now see stimulus? and so forth — which, in the long—term, improves profitability — not just for tech, but other companies. should that come out in the earnings that actually with the upside potential for upcoming quarters, tech can continue and we have to take into account that tech giants are so big. it is no longer the big five. it is the big seven and soon it will be the big 11 and so forth. they have a market capitalisation far more than major economies and i do not see that trend finishing. the president of poland has said that gas flows from russia to western europe should never be restored, even in the event of a peace deal between

russia and ukraine. president duda told the bbc that the nord stream gas pipelines, which haven't been used since 2022, should be dismantled. he sat don with faisal islam at davos. some look at russia and see the sanctions effort, which they seem to be resisting for the past year, the economy seems to be ok, but maybe just now it is starting to hurt russia. is that what you see? do you think at this moment all of the sanctions are working? and what does that mean the west should do right now? translation: | know | president donald trump and i smile when i see politicians taking such decisive actions right now on russia and they are expressing their fear that donald trump might leave ukraine on its own and leave it to russia because they are the ones that recently did business with russia and there are some saying they would like to see business as usual being restored as soon as possible because that is being demanded

of them by their own companies. as you know, there is a big election in your neighbour germany next month. i know you will want to comment on that. you mentioned that if there was a peace deal, business as normal might come back. are you worried that if there is a peace deal straightaway, for example the german businesses and industry will say "switch on the pipeline again" and the same thing will happen again? or do you think that pipeline, the gas flows from russia, they should never come back again? translation: | believe | that the nord stream gas pipeline should be dismantled and i also want to say it was donald trump who stopped the construction on nord stream 2. that was his decision. he imposed sanctions on the companies involved in the construction of nord stream back in 2019 and thanks to him those constructions were stopped. i can only hope that european leaders visible in the photo depicting leaders opening nord stream will have lessons for later after the opening of nord stream.

they will learn lessons from russia's aggression against ukraine and will push through decisions to never restore the pipeline of gas to europe for one reason — because it poses a very big threat to the entire region of central europe, to ukraine, to poland, to slovakia, and also central european countries. it is a threat from the point of view of energy, the military but also it is a huge economic threat because it means the domination of russia over europe in the economic sense. the german industry is suffering, there is an election — that message may be heard. the german industry is suffering, there is an election — that message may be heard. they may be tempted to go for the cheap gas again. translation: 0k. but we cannot agree to the uk community being consistent and allowing russia to transport its gas to europe, and in this way, allowing russia to build its energy domination over europe. this is unacceptable. india and indonesia have agreed to strengthen ties following a meeting between the country's leaders.

following a meeting between the countries' leaders. indonesia's leader was meeting with narendra modi. he was also a guest at india's national day celebrations. let'sjoin our india let's join our india business reporter. tell us why india and indonesia are looking to find areas of collaboration? well, maritime trade and defence manufacturing over the two key areas discussed this time around and also expanding their endeavours and their trade basket. $30 billion of bilateral trade between the two countries current lay surrounds coal, palm oil, defence industries and telecom. india would support indonesia's defence modernisation programme as well. there are also talks on buying some missiles from india as per some media reports. but, overall, indonesia is a key ally in the asean region for india — especially as india

seeks to position itself as a counterbalance to china's territorial ambition in the region. remember, more than half of india's trade passes through the mu laka strait as well as the south china sea. over there, getting of freedom and securing that freedom of navigation is very crucial. that was also a key point of conversation between the indian prime minister and indonesia president. indonesia has been a key focus for prime minister narendra modi in india's look east policy. that is where the conversations also circled around. ., , conversations also circled around. . , . around. thanks very much. thanks for— around. thanks very much. thanks for your _ around. thanks very much. thanks for your time. - around. thanks very much. l thanks for your time. thanks for watching.

hello, and welcome to sportsday. these are the headlines: tense times for tottenham: another premier league defeat means postecoglou's problems mount. a daunting prospect for their rivals: chelsea parade their world—record signing

while also extending their lead at the top of the table. and — sinner celebrates going back to back in melbourne as he lifts grand slam trophy number three. hello, and welcome along to the programme. tottenham and leicester city both would have done anything for a win this weekend. two of the premier league's poorest teams when it comes to form, and for the spurs' boss, ange postecoglou, the questions mount for him and his side that were beaten 2—1 in north london. the win for leicester city, though, takes them out of the relegation zone. while it has been a dreadful start to the year in the league for spurs —

they have not won for seven games now and, after that