The difference between a treaty and an executive agreement lies in their ratification processes. A treaty requires formal approval from the Senate, needing a two-thirds majority vote. Treaties are often more binding and established as permanent agreements with legal implications under international law. In contrast, an executive agreement can be enacted solely by the President and does not require Senate approval, allowing for more flexibility and speed in diplomatic negotiations. However, executive agreements may carry less permanence and often depend on subsequent administrations for continuation.