Most Favored Nation

(redirected from Most Favored Nation Status)
Also found in: Acronyms.

Most Favored Nation

A privilege granted by one country to another whereby the products of the privileged country pay the lowest delivered duty paid charged by the granting country.

Most Favored Nation

A status in which a country assesses the lowest possible tariffs that it can assess on another country. For example, if a country's lowest tariff is a certain percentage of the value of a good, it charges this percentage on an import from a country with most favored nation status. Members of the World Trade Organization are required to extend Most Favored Nation status to other members, though exceptions exist. In the United States, most favored nation status is formally called permanent normal trade relations.
References in periodicals archive ?
Finance Minister Ishaq Dar told a private television channel this week that granting most favored nation status to India is currently not on the agenda.
In fact, we continually claim that trade is not an instrument of foreign policy, yet we threaten trade sanctions and revoke China's Most Favored Nation status, while extending it to other nations that commit the same offenses.
Vietnam does not have Most Favored Nation status, so duties are much higher on its products than on those from China and India.
Embracing the brave new free-market world epitomized by the GATT (General Agreement on Tariffs and Trade) and NAFTA (North American Free Trade Agreement) treaties, President Bill Clinton set the tone for the rest of American labor policymakers when he formally rescinded any connection between an improvement in China's human-rights record with the granting of Most Favored Nation status to China.
* an end to China's Most Favored Nation status unless it cooperates with US antidrug efforts;
The meeting was held against the backdrop of Pakistan's recent announcement of granting most favored nation status to India and the return of an Indian army helicopter that strayed into its airspace, PTI said.
The difficulty involved in getting people to support Bill Clinton is that he spent an enormous amount of capital pushing for NAFTA and GATT and Most Favored Nation status for China," explains Sanders.

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