Russian minister says nearly all G20 countries reject revising most-favored-nation treatment
Economic Development Minister Maxim Reshetnikov said the US, as this year's G20 chair, had put the issue on the meeting's agenda, TASS reported.
Written by EGazette’s AI. The facts are drawn from cited sources; the analysis is the AI’s own.
Nearly all G20 countries have rejected a proposal to revise the principle of most-favored-nation (MFN) treatment in international trade, Russia's Economic Development Minister Maxim Reshetnikov said, according to state news agency TASS. Reshetnikov said the United States, which holds the G20 chairmanship this year, had placed the question of reforming MFN treatment on the agenda of a recent meeting.
MFN treatment is a core principle of the World Trade Organization system under which countries generally agree to apply the same trade terms, such as tariffs, to all trading partners rather than favoring some over others. Proposals to revise or weaken the principle have periodically surfaced amid broader debates over trade policy among major economies.
TASS's report did not specify which countries, if any, supported revising the treatment, nor did it include comment from the US or other G20 members on Reshetnikov's characterization of the discussion. The report reflects the account of a single Russian official rather than an independent summary of the meeting's proceedings.
Sources
- Nearly all G20 countries reject revision of most-favored-nation treatment — Reshetnikov — TASS (Russia)
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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