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:
“It’s the oldest established permanent floating crap game in New York.”
—Frank Loesser (1910–1969)
“Every normal person, in fact, is only normal on the average. His ego approximates to that of the psychotic in some part or other and to a greater or lesser extent.”
—Sigmund Freud (1856–1939)
“...I lost myself in my work and never felt that marriage would give me the security I wanted. I thought that through the trade union movement we working women could get better conditions and security of mind.”
—Mary Anderson (1872–1964)
“Consciousness, we shall find, is reducible to relations between objects, and objects we shall find to be reducible to relations between different states of consciousness; and neither point of view is more nearly ultimate than the other.”
—T.S. (Thomas Stearns)