Difference between revisions of "Most favored nation"
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| − | '''Most favored nation''' (MFN) is a [[trade]] status given by one [[nation]] to another that is the most favored trade status. In other words, a nation with MFN status receives the best treatment possible in trade. An MFN receives the lowest [[tariff]]s and is not disadvantaged in any way. | + | '''Most favored nation''' (MFN) is a [[trade]] status given by one [[nation]] to another that is the most favored trade status. In other words, a nation with MFN status receives the best treatment possible in trade. An MFN receives the lowest or no[[tariff]]s and is not disadvantaged in any way. |
In the [[United States]], MFN status is also called normal trade relations. | In the [[United States]], MFN status is also called normal trade relations. | ||
Revision as of 04:55, October 20, 2012
Most favored nation (MFN) is a trade status given by one nation to another that is the most favored trade status. In other words, a nation with MFN status receives the best treatment possible in trade. An MFN receives the lowest or notariffs and is not disadvantaged in any way.
In the United States, MFN status is also called normal trade relations.
The members of the World Trade Organization, which include all developed nations, accord each other most favored nation status.