Methuen Treaty

The Methuen Treaty was an agreement between Britain and Portugal in 1703 that established favorable trade terms. It allowed Portuguese wine to be imported into Britain at low tariffs, boosting its sales, while Britain exported textiles and manufactured goods to Portugal. The treaty helped strengthen economic ties and benefited both nations: Portugal gained a significant market for its wine, and Britain expanded its trading reach. It also marked the beginning of closer diplomatic and economic relations between the two countries, influencing trade policies in Europe for years.