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Prior to World War II, U. S. commercial treaties either were silent concerning the applicability of their provisions to corporations and other associations, or provided in only a limited way for such entities. From the start, treaties of this kind concluded by the United States have been concerned with the rights and privileges of persons. It was not until 1911, however, that these treaties began to reflect attention to companies as such—artificial, as distinguished from natural—persons. Only during the last ten years have they dealt with companies systematically and comprehensively to a degree comparable with the treatment provided for natural persons.

On June 2, 1948, the United States Senate gave its approval to the conclusion by the Executive of two treaties of friendship, commerce and navigation. These were the first two treaties of this type signed by the United States since the cessation of hostilities in the second World War. Each of them had been foreshadowed in earlier treaties. The Treaty of Friendship, Commerce and Navigation with China, signed November 4, 1946, ratifications of which were exchanged November 30, 1948, was to carry out the purpose which China and the United States had recorded in Article VII of their Treaty for the Relinquishment of Extraterritorial Rights in China and the Regulation of Related Matters, signed at Washington on January 11, 1943. That with Italy, signed February 2, 1948, is the type of instrument apparently envisaged in Article 82 of the Peace Treaty with Italy.