MFN Tariff(redirected from Most Favored Nation Tariffs)
A tariff applied to a country with most favored nation status. An MFN tariff is the lowest possible tariff a country can assess on another country. For example, if a country's lowest tariff is 2% of the value of a good, this is its MFN tariff, and 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.
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