The status of permanent normal trade relations (PNTR) is a legal designation in the United States for free trade with a foreign nation. In the U.S. the name was changed from most favored nation (MFN) to PNTR in 1998.
In international trade, MFN status (or treatment) is awarded by one nation to another. It means that the receiving nation will be granted all trade advantages, such as low tariffs, that any other nation also receives. Thus, a nation with MFN status will not be discriminated against and will not be treated worse than any other nation with MFN status.
Read more about Permanent Normal Trade Relations: Applicability, History, U.S. and China
Famous quotes containing the words permanent, normal, trade and/or relations:
““More!” is as effective a revolutionary slogan as was ever invented by doctrinaires of discontent. The American, who cannot learn to want what he has, is a permanent revolutionary.”
—Eric Hoffer (1902–1983)
“Insecurity, commonly regarded as a weakness in normal people, is the basic tool of the actor’s trade.”
—Miranda Richardson (b. 1958)
“Though I have locked my gate on them
I pity all the young,
I know what devil’s trade they learn
From those they live among,
Their drink, their pitch and toss by day,
Their robbery by night....”
—William Butler Yeats (1865–1939)
“The principle that human nature, in its psychological aspects, is nothing more than a product of history and given social relations removes all barriers to coercion and manipulation by the powerful.”
—Noam Chomsky (b. 1928)