France and Britain were longtime rivals and both countries were committed to Mercantilism, yet they struck one of the first “free trade “deals or at least the first deal premised on philosophy of free trade. Even today, many free market types will argue that trade can overcome even the bitterest of rivalries. People like making money more than they like making trouble, so the theory goes. This trade deal is proof of that.H/t D29, who adds: "We would not, of course, suggest that the guillotine is a remedy. Yet."
The most notable part of the deal is that it was a disaster for France. Soon after the deal was signed, there was a flood of British manufactured goods into France. Importation of British goods doubled. This put enormous pressure on the already distressed French industries, setting off riots and revolts. Naturally, this put pressure on the already strained relations between the provinces and the crown. Most historians count the Eden Treaty as one of the contributing factors leading up to the French Revolution.
Free Trade Is Good For Everybody, Right?
Well, it turns out it wasn't very good for Louis XVI:
By Grim on Wednesday, October 19, 2016