During this time, the Native Americans traded mainly furs and sometimes food.
In exchange, the Europeans gave them items like horses, alcohol, and manufactured goods such as guns, metal cooking utensils, and cloth.
The Indians made good use of the trade goods they received, specifically the axes, knives, and guns. They had quite a good source of income for a good deal of time until the mid 1800's, when changing fashion trends resulted in a collapse of the demand for fur clothing.
Remember that at this time, furs were in high-demand in Europe, due to a shortage. Especially beaver furs, which at that time were fashioned into fancy hats. Other furs were used too, mainly for fashion.