An agreement to offer a trading partner the lowest tariff rate given to other trading partners is called

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Most favored nation status is an agreement to offer a trading partner the lowest tariff rate given to other trading partners. This agreement is part of the World Trade Organization framework and is meant to ensure non-discriminatory trade practices among member countries. Option A is incorrect because a discount is a reduction in the list price of a product, which is not related to international trade agreements. Option B is incorrect because equal trading is not a commonly used term in international trade, and does not refer to any specific agreement or practice. Option D is incorrect because GATT (General Agreement on Tariffs and Trade) was a predecessor to the World Trade Organization and is not a specific agreement to offer the lowest tariff rates to trading partners.

An Agreement to Offer a Trading Partner the Lowest Tariff