most favored nation
- The principle, fundamental to the GATT, of treating imports from a country on the same basis as that given to the most favored other nation. That is, and with some exceptions, every country gets the lowest tariff that any country gets, and reductions in tariffs to one country are provided also to others.
- A level of treatment bestowed by one nation onto another, usually with respect to international trade agreements, which often include low import fees and high import quotas. Members of the World Trade Organization (WTO) have conferred the most favored nation or MFN status upon each other.