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President Donald Trump’s aggressive and unpredictable use of tariffs is spooking American business groups, which have long formed a potent force in his Republican Party. Trade
Corporate America was blindsided last week when Trump threatened to impose crippling taxes on Mexican imports in a push to stop the flow of Central American migrants into the United States.
The two sides reached a truce Friday after Mexico agreed to do more to stop the migrants. But by Monday, Trump was again threatening the tariffs if Mexico didn’t abide by an unspecified commitment, to “be revealed in the not too distant future.”
Such whipsawing is now a hallmark of Trump’s trade policy. The president repeatedly threatens tariffs, sometimes imposes them, sometimes suspends them, sometimes threatens them again. Or drops them.
Business groups, already uncomfortable with Trump’s attempts to stem immigration, are struggling to figure out where to stand in the fast-shifting political climate. They have happily supported Trump’s corporate tax cuts and moves to loosen environmental and other regulations. But the capriciousness of Trump’s use of tariffs has proved alarming.
“Business is losing,” said Rick Tyler, a Republican strategist and frequent Trump critic. “He calls himself ‘Mr. Tariff man.’ He’s proud of it. … It’s bad news for the party. It’s bad news for the free market.”
“It was a good wakeup call for business,” James Jones, chairman of Monarch Global Strategies and a former U.S. ambassador to Mexico, said of Trump’s abrupt move to threaten to tax Mexican goods.
Creating distance from Trump
Just last week, the sprawling network led by the billionaire industrialist Charles Koch announced the creation of several political action committees focused on policy — including one devoted to free trade — to back Republicans or Democrats who break with Trump’s trade policies. A powerful force in Republican politics, the network is already a year into a “multi-year multi-million dollar” campaign to promote the dangers of tariff and protectionist trade policies.
The Chamber of Commerce, too, is in the early phases of disentangling itself from the Republican Party after decades of loyalty. The Chamber, which spent at least $29 million largely to help Republicans in the 2016 election, announced earlier this year that it would devote more time and attention to Democrats on Capitol Hill while raising the possibility of supporting Democrats in 2020.
Few expect the Chamber or business-backed groups like the Koch network to suddenly embrace Democrats in a significant way. But even a subtle shift to withhold support from vulnerable Republican candidates could make a difference in 2020.
Trump’s boundless enthusiasm for tariffs has upended decades of Republican trade policy that favored free trade. It has left the party’s traditional allies in the business world struggling to maintain political relevance in the Trump era.
Uncertainty for businesses
Trump’s tariffs are taxes paid by American importers and are typically passed along to their customers. They can provoke retaliatory tariffs on U.S. exports. And they can paralyze businesses, uncertain about where they should buy supplies or situate factories.
“Knowing the rules helps us plan for the future,” said Jeff Schwager, president of Sartori, a cheese company that has had to contend with retaliatory tariffs in Mexico in an earlier dispute.
Trump seems unfazed.
Myron Brilliant, head of international affairs at the U.S. Chamber of Commerce, went on CNBC on Monday to decry “the weaponization of tariffs” as a threat to the U.S. economy and to relations with trading partners.
Trump responded by phoning in to the network to declare “I guess he’s not so brilliant” and defend his trade policies.
“Tariffs,” he said, “are a beautiful thing.”
Trump can afford to be confident about his grip over the party: Roughly nine in 10 rank-and-file Republicans support his performance as president, according to the latest Gallup polling. So Republicans in Congress have been reluctant to tangle with him.
But last week’s flareup over the Mexico tariffs may prove to be a pivotal juncture. The spat was especially alarming to businesses because it came seemingly out of nowhere. Less than two weeks earlier, Trump had lifted tariffs on Mexican and Canadian steel and aluminum — action that seemed to signal warmer commercial ties between the United States and its neighbors.
“This really came out of left field,” said Daniel Ujczo, a trade lawyer at Dickinson Wright. “It was something we thought we had settled, and we hadn’t.”
Congress was already showing signs of wariness, especially over Trump’s decision to dust off a little-used provision of trade law to slap tariffs on trading partners. Section 232 of the Trade Expansion of 1962 lets the president impose sanctions on imports that he deems a threat to national security.
Trump has deployed that provision to tax imported steel and aluminum. And he’s threatening to impose Section 232 tariffs on auto imports, a chilling threat to American allies Japan and the European Union.
Congress is considering bipartisan legislation to weaken the president’s authority to declare national-security tariffs. In doing so, lawmakers would be reasserting Congress’ authority over trade policy, established by the Constitution but ceded over the years to the White House.
The legislation has stalled in Congress this spring. But on Tuesday, Iowa Republican Chuck Grassley, chairman of the Senate Finance Committee, said the bill would be ready “pretty soon.” Given “how the president feels about tariffs,” Grassley said, “he may not look favorably on this. So I want a very strong vote in my committee and then, in turn, a very strong vote on the floor of the Senate.”
Congressional reluctance to challenge Trump could be tested in coming months. Lawmakers may balk if he proceeds with plans to tax $300 billion worth of Chinese goods that he hasn’t already targeted with tariffs — a move that would jack up what consumers pay for everything from bicycles to burglar.
Likewise, taxing auto imports — an idea that has virtually no support outside the White House — would likely meet furious resistance. So would any move to abandon a trade pact with Mexico and Canada. Trump has threatened to withdraw from the 25-year-old North American Free Trade Agreement if Congress won’t ratify a revamped version he negotiated last year.
For all their disenchantment with Trump, the Chamber of Commerce may yet find it hard to break its ties to the party. Though the chamber says it’s weighing a more bipartisan approach, it recently featured a sign on its front steps: It likened Trump to Republican icons Ronald Reagan and Dwight Eisenhower. (VOA)
By- Blogger Indifi
EMI is known as equated monthly installments. It is a fixed payment made by the borrower each month to repay the loan amount. The EMI is divided into two loan components. One is the principal amount, and the second is the interest amount. Whether you are applying for a personal loan, business loan, home loan, car loan, or education loan, EMIs are easy to calculate using the EMI loan calculator.
Three parameters based on which EMI calculator works:
- Loan amount.
- Repayment tenure.
- Rate of interest (offered by the lender).
Factors that affect the Loan EMIs
Above, we have discussed the main parameters on which loan EMI is based. Here are the factors that affect the EMIs.
Changes in the loan interest rate: There are three loan interest rates -- fixed, floating, and hybrid.
When an interest rate offered on a loan is fixed, in that scenario, there are no changes in the EMIs.
A floating interest rate is linked to the marginal cost of the fund-based lending rate and can change the loan EMIs. As the rate is flexible, it keeps changing per the repo rate.
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If you have taken the loan on a hybrid interest rate, the interest rate is fixed only for a particular tenure. After that, it is on MCLR to decide the interest rate, and based on the determined interest rate, the EMI changes.
Tenure: When you opt for a loan transfer from one lender to another, there may be a possibility of change in the loan tenure. It will also bring changes in the EMI calculations. If the tenure increases, it will decrease the EMI. In case the tenure is reduced, EMI will increase.
Sample loan chart of a business company Image source: wikimedia commons
The loan amount of repayment is also a reason that affects a loan's EMI. If you make a loan prepayment, it reduces the outstanding principal amount, based on which the EMI amount or tenure is changed.
Benefits of using an online EMI calculator:
- Find out exact EMIs to be paid monthly for any loan.
- Saves time.
- Get a detailed overview of loans applied using the amortization schedule.
- Plan your monthly finances well in advance.
You can set multiple schedules and loan tenures. After a detailed schedule comparison, choose the one that suits well with your financial requirements.
Significance of loan amortization schedule in EMI calculator
A loan amortization schedule data shows the EMI break-ups. It shows how much EMI you need to pay for interest and what you will pay as the principal amount. It is one of the most significant advantages of using the EMI calculator. The EMIs that you pay as principal will keep reducing the loan's principal amount. It will also result in decreasing the interest amount. You will get to know all these things when you use the EMI loan calculator frequently. The amortization schedule is one of the essential features of an EMI loan calculator that helps design the proper prepayment schedule.
The different types of EMI calculators
Home loan EMI calculator
Home loans are one of the most popular and common loans applied for in India. It has a long tenure and a sizable principal amount. Whenever you apply for a home loan, it is essential to do all the EMI calculations in advance. There are various home loan EMI calculators available online with every home loan provider. All that is required to calculate the EMI is the loan amount, tenure, and interest rate. Using a home loan EMI calculator can help you easily plan your finances.
Business loan EMI calculator
Like home loans, business loans also come with a massive principal amount and longer tenures. So, using the business loan online EMI calculator is a smart way to calculate the business loan EMIs. Requirements are the essential loan details, such as repayment tenure, interest rate, and the loan amount. Online, equated monthly installment is automatically calculated at the lender's website.
Personal loan EMI Calculator
Personal loans are multipurpose. It is the reason they are considered as the most applied loan to meet immediate financial requirements. For choosing the right loan amount, you must use the personal loan EMI calculator. It will help you to choose the best interest rate loan offer and tenure. Try to go with the shorter term to pay less interest on the principal amount.
Sample of External Loan amounts Image source: wikimedia commons
Education loan EMI calculator
Education costs increase each year and can cause financial strains on a family. If you are planning to send your child overseas for higher education by applying for an education loan, at that time, the EMI calculator proves to be the best online financial tool. It will help you to decide the right EMI amount where your daily expenses remain unaffected.
Simple interest loan EMI calculator
An EMI calculator is used to calculate the simple interest applicable on the loan amount for a specified tenure. It is one of the most accessible financial tools. All that is required is tenure, a simple interest rate, and the borrowed amount. After that, click on 'calculate' to know the exact EMI to be paid.
Loan against property EMI calculator
If you have any residential or commercial property registered in your name, you can apply for a loan against the property. It is a kind of secured loan, where the property is kept as collateral. To understand how EMI works under this loan scheme, use the loan against the property EMI calculator.
Overall, EMI loan calculators are one of the best financial tools to compare varied loan offers. It provides a clear picture of the total cost of the loan and respective EMIs to be paid monthly. Online EMI calculators are available on every lender's website; whether you are applying for a business loan online, home loan, car loan, personal loan, or any other loan, using the online EMI calculator can help. Just with a click of a mouse, you can keep control of your financial life.
The online EMI loan calculator has been programmed with the formula based on the loan applied. There is no need to worry about the accuracy of the result. All that you are required to share for the calculator to do its job accurately is the right amount, tenure, and interest rate offered by the lender.
Disclaimer: (This article is sponsored and include some commercial links)
The symbol of Swastika is known to signify peace, prosperity, and good fortune in the religious cultures of Eurasia. In fact, this symbol is considered very significant in Hinduism, Buddhism, and Jainism. But, at the same time, it has become one of the most misunderstood religious symbols and has been globally banned in many countries.
The reason why the symbol of Swastika is banned in many countries is because of its association with Adolf Hitler's extreme political ideology, Nazism, as Swastika as its official symbol.
Austria, France, Latvia, Spain, Germany, and Russia are amongst the many countries that have banned the display and use of the Swastika.
Moreover, last week Victoria in Australia is preparing to become the first-ever state to ban the public display of the Swastika. This is a step towards an expansion of anti-vilification laws in the state.
Representation of the Swastika on the flag of Adolf Hitler's Nazi Movement.Photo by Flickr.
Now, we must know and understand what went wrong with this symbol, which is sacred and signifies all-good things.
For a very, very long time, in India, the Swastika is the first emblem that is worshipped or even drawn before any sacred and auspicious ceremonies as this symbol in Sanskrit represents 'well-being'. But, the Swastika lost all its credibility when it was wrongfully used by Adolf Hitler.
In fact, it is believed that if this symbol is worshipped properly, then it gives positive results. But if it is abused, then it gives negative results. So, when Adolf Hitler rotated the Swastika at 45 degrees, it slowly and steadily brought misery not only to Adolf Hitler and his theory of Nazism but also to all the people who were associated with him.
Therefore, in order to give the kind of respect and credibility which the Swastika deserves, World Interfaith Harmony Week which was held in New York in February this year, interfaith groups appealed to the United Nations to recognize and acknowledge the Swastika as an important and peaceful symbol. In fact, they also differentiated it from the Hakenkreuz or "Hooked Cross" of Adolf Hitler.
Keywords: Swastika, Symbol, Nazism, Hinduism, Adolf Hitler, United Nations, Buddhism, Jainism
India celebrated a historic day on August 7, as 23-year-old Neeraj Chopra became the first Indian to win an Olympic gold medal in athletics. In the men's javelin throw event, he achieved his greatest triumph, throwing the javelin 87.58 meters on his second try.
Neeraj Chopra was born on December 24, 1997, in Khandra village in Haryana's Panipat district. He grew up in a Haryanavi family of farmers. He is the brother of two sisters. He graduated from Dayanand Anglo-Vedic College in Chandigarh and is now enrolled in Lovely Professional University in Jalandhar, Punjab, pursuing a Bachelor of Arts degree. Chopra was bullied due to his obesity as a kid, which prompted his father to enroll him in a nearby gym. He then joined a gym in Panipat, where Jaiveer Choudhary, a javelin thrower, noticed his potential and coached him. When the 13-year-old Chopra finished training under Jaiveer for a year, he was enrolled at the Tau Devi Lal Sports Complex in Panchkula, where he began training under coach Naseem Ahmed.
In 2018, he broke the world record in the javelin throw and became India's first-ever gold medalist in the javelin throw. He is also a laureate of the Arjuna Award for 2018. | Wikimedia Commons
Chopra's first international medal came in 2014, as he took home a silver medal at the Youth Olympic Qualification Tournament in Bangkok. In 2015, he set a world record in the junior category of 81.04 meters in the 2015 All India Inter-University Athletics Meet.
Since emerging into the public eye with a historic gold medal at the junior world championships in 2016, he has maintained a high level of performance, setting an Under-20 world record of 86.48m, which still stands. Gold medals in both the 2018 Commonwealth Games and the 2018 Asian Games are among his other accomplishments, including a first-place in the 2017 Asian Championships. In 2018, he broke the world record in the javelin throw and became India's first-ever gold medalist in the javelin throw. He is also a laureate of the Arjuna Award for 2018.
Chopra has also had his share of bad events in life. In 2019, he underwent surgery on the elbow of his right throwing arm, which kept him out of the game for almost a year. However, he returned more robust than ever. In November 2019, he went to South Africa to train from Klaus Bartoneitz. He spent the following year in India training at the NIS Patiala because of the COVID-19 pandemic. He was allowed to go to France with his coach after weeks of trying to get a travel visa.
Neeraj Chopra made history in the 2020 Tokyo Olympics by becoming the first Indian to win a gold medal in athletics. Also, it is worth mentioning that after Abhinav Bindra, Chopra is only the second Indian to win an individual gold medal.
Keywords: Neeraj Chopra, Olympics, Tokyo2020, Gold medal, javelin, India, Haryana