*** Welcome to piglix ***

Permanent normal trade relations


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 United States, 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.

Granting of permanent normal trade relations status is automatic, except where specifically denied by law.

The following countries are specifically denied NTR status, as of 2005:

The following countries are temporarily afforded NTR treatment by presidential waiver in accordance with the Jackson–Vanik amendment, as of 2005:

The following countries are temporarily afforded NTR treatment by a presidential compliance determination, in accordance with the Jackson–Vanik amendment, as of 2005:

Embargoes also apply to additional parties; see United States embargoes.

In 1948 the United States joined the General Agreement on Tariffs and Trade (GATT), the predecessor organization of the World Trade Organization. In accordance with GATT provisions the United States agreed to extend what was then called Most Favored-Nation status (MFN) to all GATT member countries. This status was also applied to some countries that were not GATT members. However, a member may opt out of its obligations by invoking the non-application provision (Article XIII of the WTO or Article XXXV of the GATT) if it determines it cannot extend GATT/WTO principles to newly acceding members for political reasons. In 1951, the U.S. Congress directed President Harry Truman to revoke MFN status to the Soviet Union and other Communist countries except for Yugoslavia. During the Cold War, most Communist countries were denied MFN status if they did not meet certain conditions. Poland was granted MFN status in December 1960 by President Eisenhower. In 1962, Congress enacted a directive that jeopardized the MFN status of Poland and Yugoslavia; however, the directive was delayed until a new one was passed that allowed any countries with MFN to keep the status if the President determined it to be in the national interest of the United States.


...
Wikipedia

...