An agreement among WTO countries in which any tariff concession granted by one member to any other country will automatically be extended to all other countries of WTO is called the _____ principle.

Question

Quizplus · Accepted Answer

The principle described in the question is the most favored nation principle, which is a fundamental principle of the WTO. It means that any trade concession or benefit given by one member to another must also be extended to all other members of the WTO. This principle ensures that all members are treated equally and helps to create a level playing field for international trade. The other options listed are not relevant to the concept described in the question.

An Agreement Among WTO Countries in Which Any Tariff Concession