On February 25, 1933, Éamon de Valera, then President of the Executive Council of the Irish Free State, initiated what became known as the "Economic War" with Britain. This dispute arose from de Valera's refusal to continue paying land annuities to the British government, which were repayments for loans advanced to Irish tenants to buy their land under various Land Acts. Britain retaliated by imposing duties on Irish agricultural exports, and Ireland responded with duties on British goods. This economic conflict significantly strained Anglo-Irish relations and had a profound impact on the Irish economy for several years.
