MFN stands for most favored nation status under GATT.

Question

Quizplus · Accepted Answer

MFN stands for most favored nation status, and it is a term used in the General Agreement on Tariffs and Trade (GATT), which is an international agreement regulating world trade. MFN status means that a country grants another country the lowest tariffs, fees, and other trade barriers that it is offering to any other country. This status promotes non-discrimination in international trade and makes trade negotiations simpler and fairer.

MFN Stands for Most Favored Nation Status Under GATT