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A most favoured nation clause (also called a most favoured customer clause or most favoured licensee clause) is a contract provision in which a seller (or licensor) agrees to give the buyer (or licensee) the best terms it makes available to any other buyer (or licensee).
After the two governments settled asset claims dating from the Korean War in 1950, Congress temporarily granted China most favored nation status in 1980. However, Chinese-American trade was still hindered by the Jackson–Vanik amendment of 1974, which made trade with the United States contingent on certain human rights metrics. The Jackson ...
The United States, the European Union, Britain, Canada and Japan were due to move jointly on Friday to revoke Russia's "most favoured nation" (MFN) status over its invasion of Ukraine, people ...
The basic WTO principle of most favoured nation (MFN) applies to GATS as well. However, upon accession, members may introduce temporary exemptions to this rule. However, upon accession, members may introduce temporary exemptions to this rule.
A “like product” describes the particular relationship in international trade law between two goods that are produced by two different trading nations. This concept is the foundation of the two central principles of the World Trade Organisation (WTO) system as outlined in the General Agreement on Tariffs and Trade 1947 (GATT): Most Favoured Nation (Article I) and National Treatment ...
The Trade Act of 1974 required the trade status of PRC be reviewed annually. On May 15, 2000, Representative William Reynolds Archer, a Republican from Texas, introduced H.R. 4444 to make the trade status of China permanent, saying that the bill was a top priority for the rest of the year and it was vital to the U.S. agriculture market to have access to a market that accounts for one-fifth of ...
In addition to facilitating applied tariff reductions, the early GATT's contribution to trade liberalisation "include binding the negotiated tariff reductions for an extended period (made more permanent in 1955), establishing the generality of non-discrimination through most favoured nation (MFN) treatment and national treatment status ...
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