When the United States places the lowest possible tariff on imported goods from a particular country, it bestows on that country

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When the United States places the lowest possible tariff on imported goods from a particular country, it bestows on that country most-favored-nation status. This status means that the importing country will receive the same favorable tariff treatment that the United States extends to its other most-favored trading partners. It does not confer optimal-trade-nation status, best-trading conditions, or comparative advantage conditions.

When the United States Places the Lowest Possible Tariff on Imported