Commercial treaty Commercial treaty A commercial treaty is a formal agreement between states for the purpose of establishing mutual rights and regulating conditions of trade. It is a bilateral act whereby definite arrangements are entered into by each contracting party towards the other—not mere concessions. For example, the Methuen Treaty was a commercial treaty between Portugal and England. Another example, between the close of the Napoleonic wars of 1815 and the year 1860, the tariff system of Great Britain was changed from elaborate protection to practically complete free trade. An attempt had indeed been made in 1786 to modify the rigidly protective
Treaty of the Bogue Treaty of the Bogue The Treaty of the Bogue () was a treaty between China and the United Kingdom, concluded in October 1843 to supplement the previous Treaty of Nanking. The treaty's key provisions granted extraterritoriality and most favored nation status to Britain. In order to conclude the First Opium War, imperial commissioner Qiying and Henry Pottinger concluded the Treaty of Nanjing aboard the British warship HMS "Cornwallis" in 1842 in Nanjing on the behalf of the British Empire and the Chinese Qing dynasty. The treaty became the first of a series of commercial treaties, often referred to as "unequal