Commercial treaty till the middle of the century, apparently with irresistible support, they suddenly collapsed under the strain of a season of exceptionally short crops. Both their continued maintenance and their final sudden abolition are in some respects divergent from the general course of British tariff history. 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
Oregon Treaty Oregon Treaty The Oregon Treaty is a treaty between the United Kingdom and the United States that was signed on June 15, 1846, in Washington, D.C. Signed under the presidency of James K. Polk, the treaty brought an end to the Oregon boundary dispute by settling competing American and British claims to the Oregon Country; the area had been jointly occupied by both Britain and the U.S. since the Treaty of 1818. The Treaty of 1818 set the boundary between the United States and British North America along the 49th parallel of north latitude from Minnesota to the "Stony Mountains"