Under the most-favored-nations principle,the Senate has the power to negotiate mutual tariff reductions of up to 65% with other nations.

Question

Quizplus · Accepted Answer

The statement is incorrect. Under the most-favored-nations principle, countries grant each other the same trade advantages as their best trading partner, but the Senate does not have the power to negotiate tariff reductions on its own. This power belongs to the executive branch, specifically the Office of the United States Trade Representative, which negotiates trade agreements and submits them to Congress for approval.

Under the Most-Favored-Nations Principle,the Senate Has the Power to Negotiate