Explain the importance of Henry VII(TM)s treaties with

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Explain the importance of Henry VII’s treaties with

 foreign powers, in relation to other factors, in expanding overseas trade  (15 marks)

                Foreign trade was an important factor throughout the reign of Henry VII as it had a high income. During his time as king Henry increased the annual revenue from foreign trade from ₤33,000 to ₤40,000. This gave Henry a much needed sense of security, as a usurper of the crown himself, as a rich king is much more secure and safe than a weak king. His foreign treaties not only dealt with vital matters like pretenders and marriages, but also a great deal of imports and exports.

                Henry was eager to extend English trade abroad, especially as the activities of the pretenders had exposed weakness upon his dependability on other foreign powers, especially Antwerp. Therefore in 1486, Henry began a new agreement in which the restrictions placed upon Franco-English trade were removed. Although, because of Henry’s involvement with Brittany, the French charged higher duties on all English goods imported into France. However, all of these changes were adapted in 1492, under the Treaty of Etaples. The French agreed not to help any Yorkist pretenders and to pay Henry a pension of ₤5,000 a year. England was now recognised by France as a European power and trade between them was encouraged. Also the wine trade that was disrupted by the Wars of the Roses was re-established, but it was not until 1497 the relations were once again returned to normal by the removal of the higher duties.

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                Henry was determined to strengthen his links, both in terms of trade and dynastic interests, with new power Spain. In 1489 The Treaty of Medina Del Campo was partly concerned with the Breton war, Spain probably trying to gain English support against France, but there were also many advantages were gained on behalf of Henry. Issues regarding the Navigation Acts were resolved, which opened up new Spanish markets and more opportunities for English trade. It also gave the two countries good relations as an agreement was made that Henry’s eldest son, Arthur, would be married to Ferdinand and Isabella’s younger ...

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