23 Feb 2017
Glossary: MFN rate
Acroymn in full: most favoured nation rate
MFN rate is applied to a country with most favoured nation status. It is a tariff rate that World Trade Organization (WTO) members promise to impose on imports from other members, unless the country is part of a preferential trade agreement, such as a free trade agreement or customs union. Essentially, MFN rate is the highest rate that a WTO member can charge one another, unless the “Non-Application Clause” of WTO agreements is invoked by a member who applies not to extend MFN treatment to certain other members.
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Related term: WTO