The main operating principle of the General Agreements of Tariffs and Trade (GATT) was the concept of normal trade relations (NTR) status, formerly known as:
A) Early Favored Nation status.
B) Most Favored Nation status.
C) Late Favored Nation status.
D) the World Trade status.
E) the Best Nation status.

Question

Quizplus · Accepted Answer

The main operating principle of GATT was the concept of Most Favored Nation status, which later became known as normal trade relations (NTR) status. This meant that if a member country granted preferential treatment to one trading partner, it had to offer the same treatment to all other GATT members. This principle aimed to promote non-discriminatory and open trade between member countries.

The Main Operating Principle of the General Agreements of Tariffs