23 January 1860
Cobden's treaty with the French

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Richard Cobden negotiates a commercial treaty with France. Britain cuts import tax on French wine and cognac; France cuts import tax on British coal and manufactured goods. The increased trade improves relations, which is prudent at a time when France is taking territory in Italy and planning to build the Suez Canal, which would give it a direct sea-route from the Mediterranean to the East (see 17 November 1869).

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