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The Anglo-Irish Trade War (also called the Economic War) was a retaliatory trade war between the Irish Free State and the United Kingdom from 1932 to 1938. [1] The Irish government refused to continue reimbursing Britain with land annuities from financial loans granted to Irish tenant farmers to enable them to purchase lands under the Irish Land Acts in the late nineteenth century, a provision ...
The violation of British neutral rights triggered an uproar in Britain. Britain sent 11,000 troops to Canada, and the British fleet was put on a war footing with plans to blockade New York City if war broke out. In addition, the British put an embargo on the export of saltpetre which the US needed to make gunpowder.
The outbreak of the First World War in 1914, and Ireland's involvement in the war, temporarily averted possible civil war in Ireland and delayed the resolution of the question of Irish independence. Home Rule, although passed in the British Parliament with Royal Assent , was suspended for the duration of the war.
American trade escalated to the Allied Powers, especially in farm products. British purchases were financed by the sale of American assets owned by the British. When that was exhausted the British borrowed heavily from New York banks. When that credit ran dry in late 1916, a financial crisis was at hand for Britain. [84]
America and the Fight for Irish Freedom 1866–1922 (1957) excerpt; Ward, Alan J. "America and the Irish Problem 1899–1921." Irish Historical Studies (1968): 64–90. in JSTOR; Whelan, Bernadette. De Valera and Roosevelt: Irish and American Diplomacy in Times of Crisis, 1932–1939 (Cambridge University Press, 2020) online review
Yet the British economy will be profoundly affected by this nascent global trade war. No one knows how it will end, except that it will lead to mutual impoverishment across the world and a further ...
The refusal of the Irish government to pass on monies it collected from these loans to the British government led to a retaliatory and escalating trade war between the two states from 1932 until 1938, a period known as the Anglo-Irish Trade War or the Economic War.
The treaty abolished the 20% tariffs that both the United Kingdom and Ireland placed on their respective imported goods. Ireland was also to pay a final one time £10 million sum to the United Kingdom for the "land annuities" derived from financial loans originally granted to Irish tenant farmers by the British government to enable them purchase lands under the Land Acts pre-1922, a provision ...