The Treaty of Utrecht, signed in 1713, was significant because it marked the end of the War of the Spanish Succession and reshaped the balance of power in Europe. The treaty resulted in substantial territorial changes, with France and Spain ceding territories to various European powers, including Britain, who gained control of Gibraltar and Newfoundland. This established Britain as a dominant maritime power and influencing global trade dynamics. The treaty also emphasized the principle of maintaining a balance of power, which would play a central role in European diplomacy in subsequent years.