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most-favored-nation
[ mohst-fey-verd-ney-shuhn ]
adjective
- of or relating to the status, treatment, terms, etc., that are embodied in or conferred by a most-favored-nation clause.
most-favored-nation
- 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.
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Word History and Origins
Origin of most-favored-nation1
First recorded in 1750–60
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Example Sentences
Great Britain has commercial treaties on the most-favored-nation basis with Switzerland and Greece.
From Project Gutenberg
Nor are we abandoning our non-European friends or our traditional "most-favored nation" principle.
From Project Gutenberg
I am happy to be able to announce to you that Russia now treats us on the most-favored-nation basis.
From Project Gutenberg
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