most-favored-nation

most-favored-nation

[mohst-fey-verd-ney-shuhn]
adjective
of or pertaining to the status, treatment, terms, etc., that are embodied in or conferred by a most-favored-nation clause.

Origin:
1750–60

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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American Heritage
Cultural Dictionary

most-favored-nation definition


Status in an international trading arrangement whereby agreements between two nations on tariffs are then extended to other nations. Every nation involved in such an arrangement will have most-favored-nation status. This policy is used, particularly by the United States, to lower tariffs, extend cooperative trading agreements, and protect nations from discriminatory treatment. Most-favored-nation agreements can also be used to apply economic pressure on nations by deliberately excluding them from international trade.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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