Formal communications began to go back and forth between the U.S. and Britain about the war nobody really wanted. Parliament went into session on 8 November of 1814, its main discussion the Prince Regent's address about pending negotiations at Ghent, in which he noted war had led to unavoidably large arrears, and that the war still subsisting with the United States rendered the continuance of great exertions indispensable. Parliament was deep in second thoughts about the American war. The commerce was lost, but not its replacement. Thanks to privateering, the War of 1812 turned a sizeable American profit.
Careful reflection suggests nobody really won.
But how they forced the issue is not. The war came down to not how much damage Britain could do to the United States, but the other way 'round, and Britain simply could not afford it. And privateers were the money drainpipe.