Most Favored Nation

(redirected from most favored nations)

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 ?
Summary: TEHRAN (FNA)- China will cut import tariffs for some consumer products from most favored nations from July 1, the finance ministry said.
It will also scrap temporary tariff rates on 210 imported products from most favored nations from July 1.
Recently in an antitrust class action case against several large vitamin manufactures, the defendants used a "Reverse Most Favored Nations Clause." In Re: Vitamin Antitrust Litigation 398 F.
Until a few years ago, the term "Most Favored Nation" was a phrase restricted primarily to the world of international trade.
On the other hand, of course, it could be that the Defendant chooses to go to trial against other Plaintiffs in which case the amount of the judgment would not effect an earlier Plaintiff's settlement under the concept of Most Favored Nation. Additionally, if the Plaintiff actually has a strong case, an MFN clause is unlikely to do him any good since other settlements will presumably be at or below the same amount.
On the one hand, arbitrator Fred Witney decided that a so-called "most favored nations" contract clause allowed Sun-Times management to take control of substitute printers hiring and to limit the union's jurisdiction to manual pasteup work.
The Sun-Times had argued it could impose the work and hiring restrictions and pay cuts under the most favored nations contract clause that permitted management to impose whatever contract concessions the Tribune could wrest from its typographers.
IF YOU KNEW WHAT SUNUNU If you knew what Sununu Knows about quantum physics and Greek And oil explorations and most favored nations And the secret handshake of Deke, Maybe you too, like Sununu, Would adopt as your principal nile That you are the brightest, you're lit the lightest, A nd everyone else is a fool With the I.Q.

Full browser ?