MFN tariff
Also known as: Most-Favoured Nation, Most Favored Nation, WTO bound rate
The standard tariff rate a country applies to imports from WTO member states without an FTA.
MFN (Most-Favoured-Nation) tariff is the standard duty rate a WTO member country applies to imports from all other WTO members in the absence of a preferential agreement. The 'most favoured' framing is historical — it means a country cannot offer one WTO member a worse rate than another. Bound MFN rates are notified to the WTO; applied rates may be lower. Goods qualifying under an FTA's rules of origin can claim a lower preferential rate; otherwise MFN applies.