most-favored-nation
Top trading partner
Most-favored-nation describes trade status in which a country grants another the best available terms—lowest tariffs, fewest restrictions—that it offers to any trading partner.
Often abbreviated MFN.
The principle underlies World Trade Organization agreements, where members must extend favorable treatment equally: Most-favored-nation status opened Chinese goods to American markets.
Despite the name, it typically means standard rather than preferential treatment.
Tax on traded goods
- WTOGlobal commerce regulator
- GATTTariff-reducing treaty acronym
- preferentialGiven special advantage
- nondiscriminationEqual treatment regardless of identity
customs · duties · import · export · bilateral · multilateral · treaty · commerce
Provision in agreement
- provisionPreparatory supply or clause
- statusOne's relative position
- principleFundamental truth or standard
- unconditionalWithout limits or qualifications
conditional · international law · arbitration · contractual · entitlement · rights · investor protection · dispute resolution
Connections or dealings
- allianceFormal union of parties
- partnerOne who shares activity
- privilegeExclusive right or benefit
- recognitionPerceiving something as known
summit · negotiation · bilateral · treaty · agreement · protocol · ambassador · détente
tariff
Tax on traded goods
- WTOGlobal commerce regulator
- GATTTariff-reducing treaty acronym
- preferentialGiven special advantage
nondiscrimination · customs · duties · import · export · bilateral · multilateral · treaty · commerce · trading partner
clause
Provision in agreement
- provisionPreparatory supply or clause
- statusOne's relative position
- principleFundamental truth or standard
unconditional · conditional · international law · arbitration · contractual · entitlement · rights · investor protection · dispute resolution · compliance
relations
Connections or dealings
recognition · summit · negotiation · bilateral · treaty · agreement · protocol · ambassador · détente · rapprochement
- trade policytariff, free trade, quotas, protectionism, sanctions
- trade tariffstariff rates, protective tariffs, import tariffs, import duties, customs duties
most-favored-nationprotectionism
Shielding local producers
trade embargo · economic sanctions · trade war · autarky · pariah state