The principle by which all countries involved in GATT negotiations receive the same tariff rates as the country with the lowest negotiated tariff rates is called

Question

Quizplus · Accepted Answer

The principle described in the question is known as most-favored nation (MFN), where all countries are granted the same tariff rates as the country with the lowest negotiated rates. This is a fundamental principle of the General Agreement on Tariffs and Trade (GATT) and its successor, the World Trade Organization (WTO).

The Principle by Which All Countries Involved in GATT Negotiations