The Anglo-Irish Trade War, sparked by the withholding of money that Ireland had agreed to pay the United Kingdom, had caused economic losses on both sides, and the two nations were anxious for a settlement.
Războiul taxelor anglo-irlandez, declanșat de tergiversarea plăților datorate de Irlanda Regatului Unit, dusese la pierderi economice de ambele părți, și cele două țări doreau un acord.