Spain's Opening Salvo in the Tariff Wars

[What Would Jesus Do?]

Not exactly a tariff, but definitely protectionism.

Spain proposes 100% tax on homes bought by non-EU residents​

Sánchez sought to underline the global nature of the challenge, citing housing prices that had swelled 48% in the past decade across Europe, far outpacing household incomes.

“The west faces a decisive challenge: to not become a society divided into two classes, the rich landlords and poor tenants,” he told an economic forum in Madrid.

The proposed measures include expanding the supply of social housing, offering incentives to those who renovate and rent out empty properties at affordable prices and cracking down on seasonal rentals. In Spain just 2.5% of housing is set aside for social housing, a figure that lags drastically behind countries such as France and the Netherlands, said Sánchez.

But it was the government’s plans to crackdown on foreign, non-EU buyers that grabbed headlines around the world. Spain has long been a popular destination for non-EU holiday home buyers, with residents of the UK, US and Morocco flocking to buy properties in places such as Ibiza, Marbella and Barcelona.

Spain proposes 100% tax on homes bought by non-EU residents

Pedro Sánchez announces measure in response to anger over rising housing costs

www.theguardian.com

 

[Bank of Hawk]

Makes sense in some ways, if the local populace cannot afford to buy a house because a foreigner is going to outbid them, then that is fair; Spain government needs to look out for its own first and foremost.

But like with anything, I’m sure there will be loopholes

 

[MitchLL]

Trump might be able to brag someday about not only causing a US recession, but a world recession.

 

[Jimmy McGill]

I'm calling it. A recession very soon. Global recession because of one orange turd

 

[hawkedoff]

I'm calling it. A recession very soon. Global recession because of one orange turd

Wow. The man hasn't even taken office yet.

 

[Jimmy McGill]

Wow. The man hasn't even taken office yet.

Trade wars never work my friend

 

[hawkedoff]

Trade wars never work my friend

Except for every time that they have worked of course.

 

[Jimmy McGill]

Except for every time that they have worked of course.

Give me one example. And then I will show you all the times it doesn't work

 

[MitchLL]

Except for every time that they have worked of course.

Link?

 

[Menace Sockeyes]

Guys, I love a good Trump bashing as much as the next person with a triple digit IQ, but this is more about the UK leaving the EU than it is about us. Many English people treat Spain like their Florida, and have winter homes there. More and more Brits have turned into Spanish landlords because of it.

 

[Gus is dead]

Well the left on here spends all their time hoping for failure so no one is surprised the direction this thread took.

 

[hawkdave007]

MEGA

 

[ericram]

Not pleased with this. Many foreigners invest billions into the Spain economy. Buying a house and spending money there is paramount to their economy. If you don't allow people to buy the houses that are available who will?

 

[Hawk It Up]

Wow. The man hasn't even taken office yet.

Wait a sec.

He has taken credit for the stock market rise since September-October. Long before the election.

He can't dodge shit now, 6 days before inauguration. He can't claim hands off now. Newp.

He ran all summer on he, and he alone could lower grocery prices.

Now he tells everyone "Look, they got them up. I’d like to bring them down. It’s hard to bring things down once they’re up. You know, it’s very hard," he said in the interview published Thursday."

You peckerheads are some gullible SOB's for sure.

 

[Hawk It Up]

Not pleased with this. Many foreigners invest billions into the Spain economy. Buying a house and spending money there is paramount to their economy. If you don't allow people to buy the houses that are available who will?

Does that sentiment go with Mexican and Chinese nationals buying US properties as well?

 

[ericram]

Does that sentiment go with Mexican and Chinese nationals buying US properties as well?

I don't see why not. They and Russians do it all the time.

 

[Hawk It Up]

I don't see why not. They and Russians do it all the time.

Tell that to Congressional Republicans.

Oh. Wait. They don't give a shit. Gotta hate the brown and yella people, ya know?

 

[NorthernHawkeye]

Not pleased with this. Many foreigners invest billions into the Spain economy. Buying a house and spending money there is paramount to their economy. If you don't allow people to buy the houses that are available who will?

Spaniards.

This is has been an issue for a while. This proposal has nothing to do with Trump.

 

[ericram]

Spaniards.

This is has been an issue for a while. This proposal has nothing to do with Trump.

Never once did it discuss the orange one.

 

[Doodads and Hoohah]

Well the left on here spends all their time hoping for failure so no one is surprised the direction this thread took.

You aren't correct.

 

[ericram]

Wait a sec.

He has taken credit for the stock market rise since September-October. Long before the election.

He can't dodge shit now, 6 days before inauguration. He can't claim hands off now. Newp.

He ran all summer on he, and he alone could lower grocery prices.

Now he tells everyone "Look, they got them up. I’d like to bring them down. It’s hard to bring things down once they’re up. You know, it’s very hard," he said in the interview published Thursday."

You peckerheads are some gullible SOB's for sure.

Can't wait for him to end the war in Ukraine on day one. 🇺🇦

 

[Aardvark86]

Not exactly a tariff, but definitely protectionism.

Spain proposes 100% tax on homes bought by non-EU residents​

Sánchez sought to underline the global nature of the challenge, citing housing prices that had swelled 48% in the past decade across Europe, far outpacing household incomes.

“The west faces a decisive challenge: to not become a society divided into two classes, the rich landlords and poor tenants,” he told an economic forum in Madrid.

The proposed measures include expanding the supply of social housing, offering incentives to those who renovate and rent out empty properties at affordable prices and cracking down on seasonal rentals. In Spain just 2.5% of housing is set aside for social housing, a figure that lags drastically behind countries such as France and the Netherlands, said Sánchez.

But it was the government’s plans to crackdown on foreign, non-EU buyers that grabbed headlines around the world. Spain has long been a popular destination for non-EU holiday home buyers, with residents of the UK, US and Morocco flocking to buy properties in places such as Ibiza, Marbella and Barcelona.

Spain proposes 100% tax on homes bought by non-EU residents

Pedro Sánchez announces measure in response to anger over rising housing costs

www.theguardian.com

And here I thought it was the Pyrenees that kept Spain Spanish.

 

[What Would Jesus Do?]

Trump might be able to brag someday about not only causing a US recession, but a world recession.

If he follows through on too many of his promises, that's practically guaranteed.

Which is why many respectable commentators are saying they don't actually expect him to push for more than token fulfillment of several of those promises.

The thing is, he will push for some of them. Like yet more tax cuts for the rich and powerful. And deregulation. And he'll have to implement at least token efforts on tariffs and illegals.

So the question becomes whether what he will do stops short of the tipping point.

Half my money is on recession. Another third on depression.

 

[NorthernHawkeye]

Never once did it discuss the orange one.

No, but other posters did.

 

[ericram]

No, but other posters did.

Thread highjacking asshats!

 

[BioHawk]

Spain is doing the type of protectionist policies I don't mind. The only people affected by that are foreigners trying to buy a home there. The regular people are not punished by it and in fact should benefit with cheaper housing costs. That's probably why stuff like this never happens in the US because profiteering land owners lose out.

 

[QChawks]

Spainards are kinda jerks

 

[desihawk]

i remember seeing articles posted here a year or so ago about locals bitching about foreigners making things unaffordable. i can see both viewpoints but have to sympathize with the locals if they basically can at best provide services to non-spaniards and live hand to mouth. it's entirely possible this protectionism will bite them in the ass and things get much worse for the locals...and they'll go right back to how things were

 

[ericram]

Spain is doing the type of protectionist policies I don't mind. The only people affected by that are foreigners trying to buy a home there. The regular people are not punished by it and in fact should benefit with cheaper housing costs. That's probably why stuff like this never happens in the US because profiteering land owners lose out.

The problem is it won't reduce housing much for a while if that. The Spanish people usually stay in their current houses. There are tons of dilapidated homes that Spain were giving away for a $1 as long as the foreigners spent money and fixed them up within 3 years. The Spanish people wanted nothing to do with them.

 

[desihawk]

The problem is it won't reduce housing much for a while if that. The Spanish people usually stay in their current houses. There are tons of dilapidated homes that Spain were giving away for a $1 as long as the foreigners spent money and fixed them up within 3 years. The Spanish people wanted nothing to do with them.

the context you provided is missing in the article
“Just to give an idea, in 2023 alone non-European Union residents bought around 27,000 houses and flats in Spain. And they didn’t do it to live in them, they didn’t do it for their families to have a place to live, they did it to speculate, to make money from them, which we – in the context of shortage that we are in – obviously cannot allow.”

 

[BioHawk]

The problem is it won't reduce housing much for a while if that. The Spanish people usually stay in their current houses. There are tons of dilapidated homes that Spain were giving away for a $1 as long as the foreigners spent money and fixed them up within 3 years. The Spanish people wanted nothing to do with them.

Yeah, I have no idea on the viability of the program for that area. It's probably just one part of a larger plan to fix a problem there. Plus, some may say they need the foreign investment for their money and this would certainly stop that for most people. But, it's an example of protection that I feel best does what it tries to do. Increase opportunities for citizens over foreigners, ignoring cultural issues that would need other programs to address. Like, you would need something to incentivize locals to move. Maybe provide subsidies of some sort to remodeling run down homes.

 

[ericram]

the context you provided is missing in the article
“Just to give an idea, in 2023 alone non-European Union residents bought around 27,000 houses and flats in Spain. And they didn’t do it to live in them, they didn’t do it for their families to have a place to live, they did it to speculate, to make money from them, which we – in the context of shortage that we are in – obviously cannot allow.”

No I get it. I am just saying by running off the main source of revenue might bite them in the ass. It's a proposed tax. Recently Spain made it so the owner or rep has to be there on site at guest arrival. Do you know how difficult that will make owning an airbnb there?

 

[hawkedoff]

Give me one example. And then I will show you all the times it doesn't work

Ok genius. Chinese tarrifs on foreign companies has been incredibly effective in building their economy over the last three decades. Please go into detail how their imposed tarrifs have negatively impacted their economy despite all evidence to the contrary while also layering in how these restrictions have passed costs into their citizens. Please also address the difference between those with disposable income in China vs those at or below the poverty line relative to China in answering the relative impact on each.

Go.

As a subwuestiin please address how tarrifs are different between countries in damage to consumers within the country imposing said tarrifs.

 

[TC Nole OX]

Related...


Spain Announces The End Of Its Golden Visa Program

Spain Announces The End Of Its Golden Visa Program

The Spanish government has officially announced the elimination of its residency by investment in real estate, better known as Golden Visa.

www.forbes.com

 

[Jimmy McGill]

Ok genius. Chinese tarrifs on foreign companies has been incredibly effective in building their economy over the last three decades. Please go into detail how their imposed tarrifs have negatively impacted their economy despite all evidence to the contrary while also layering in how these restrictions have passed costs into their citizens. Please also address the difference between those with disposable income in China vs those at or below the poverty line relative to China in answering the relative impact on each.

Go.

As a subwuestiin please address how tarrifs are different between countries in damage to consumers within the country imposing said tarrifs.

https://www.spglobal.com/marketintelligence/en/mi/solutions/us-china-trade-war-impacts.html

 

[Jimmy McGill]

https://anderson-review.ucla.edu/in-u-s-china-trade-war-bystander-countries-increase-exports/

 

[Jimmy McGill]

https://taxfoundation.org/research/all/federal/tariffs/

 

[hawkedoff]

https://taxfoundation.org/research/all/federal/tariffs/

You don't understand a single thing you posted

 

[Jimmy McGill]

You don't understand a single thing you posted

LOL. Sure bud. Moving on since you didn't read a damn one of them or tried to comprehend them. I even put one in there that favored your argument. Hence, I know you are full of shit. Moving on.

 

[hawkedoff]

LOL. Sure bud. Moving on since you didn't read a damn one of them or tried to comprehend them. I even put one in there that favored your argument. Hence, I know you are full of shit. Moving on.

Dipshit. Agricultural tarrifs are around 10 percent. Over half of all industrial product coming into the US have a tarrif attached. The weighted tarrif for industrial good is around 2 percent annually. We already have tarrifs dumbass

But you didnt answer my question. Because you can't. You don't have any idea what you are talking about. Tarrifs have built the Chinese economy over the last few decades. Why do tarrifs work in China? Why don't tarrifs pass costs directly to consumers in China? You dipshit reaction to tarrifs is nothing more than you being a puppet on a string.

Tarrifs can be good or bad depending on what you want to have happen. You are so damned brainwashed you repeat things you have zero clue about. I have actually done business in Asia including China so yes I do know and I also know you are full of shit.