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social science subjects > politics and international relations > governance > trade (economics) > most-favored nation principle
... > social science subjects > business and management > management settings > business management > governance > trade (economics) > most-favored nation principle

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most-favored nation principle  

Definition

  • Since Bretton Woods, the most-favored nation (MFN) principle has been identified with the nondiscrimination obligation contained in Article 1, Paragraph 1 of the General Agreements on Tariffs and Trade (GATT). Although a number of exceptions limit its scope, this bedrock of international trade law requires that national trade policy afford equal treatment to the products of all World Trade Organization (WTO) members. [Source: Encyclopedia of Governance; Most-Favored Nation Principle]

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https://concepts.sagepub.com/social-science/concept/most-favored_nation_principle

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