Definitions for "Most Favored Nation"
Keywords:  gatt, wto, tariff, concessionary, ntr
An undertaking to give the rate of tariff concession offered to members of the GATT. More concessionary rates can exist.
A status granted to one country by another; the granting country then accords the recipient's imports and exports the most favorable treatment that it accords any country.
The principle, fundamental to the GATT, of treating imports from a country on the same basis as that given to the most favored other nation. That is, and with some exceptions, every country gets the lowest tariff that any country gets, and reductions in tariffs to one country are provided also to others.
Keywords:  mtnr, mtn