John Methuen (diplomat) the Treaty on 16 May 1703, a step of great significance in the War of the Spanish Succession. John, on his return from England, concluded a commercial treaty on 27 December 1703, opening Portugal to the English cloth trade in return for preferential rates of duty on the import of wine. How beneficial to either country the Treaty was in the long run has been debated; possibly its most important result was the development of the port wine trade, and it was later referred to humorously as "the Port-Wine Treaty". Methuen in later life increasingly suffered from gout and rheumatism;
Treaty of Madrid (5 October 1750) in an effort to avoid a repeat of hostilities. Spain remained neutral until 1762 in the Seven Years' War between Britain and France. Treaty of Madrid (5 October 1750) The Treaty of Madrid was a commercial treaty signed between Britain and Spain on 5 October 1750. It followed the Treaty of Aix-la-Chapelle, which had brought a close to the War of the Austrian Succession in 1748, and resolved lingering Spanish concerns about the Asiento contract. The Treaty of Utrecht in 1713 had given Britain a thirty-year asiento, or contract-right, to supply an unlimited number of slaves to the Spanish colonies,