What does Most Favoured Nation mean?

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  • Article I of the GATT related to the principle of non-discrimination.
  • Any advantage, favour, privilege, or immunity granted to one contracting party must also be granted immediately and unconditionally to other contracting parties.
  • If a country reduces its tariff on an imported product, it must do so on similar products from third countries if they have signed the agreement.

opeiu 491