Final answer:
King James I was referring to tobacco when he made his statement about a noxious weed; his aversion contrasted with the extensive cultivation and lucrative trade in the American colonies that had a significant impact on the English economy.
Step-by-step explanation:
King James I of England referred to tobacco as a "noxious weed," highlighting its negative effects despite its immense popularity and the lucrative nature of the industry. When King James I made his statement in 1604, tobacco had been spreading across Europe, being introduced by Sir Walter Raleigh, and by 1614 it had become a significant crop for the Virginia Company, leading to large exports from the American colonies back to England.
Despite his personal aversion to tobacco, calling it "loathsome to the eye, hateful to the nose, harmful to the brain, and dangerous to the lungs," its cultivation and trade were highly profitable for the English economy and colonists. Tobacco had already become popular in Europe by that time and was in high demand, making it a profitable crop for the colonies.