Commercial treaty

A commercial treaty is a formal agreement between states for the purpose of establishing mutual rights and regulating conditions of trade.

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 legislation of the 18th century. In that year Pitt concluded a commercial treaty with France, providing for large reductions of duties in both countries.