Trade Agreements Vocabulary

noun acronym for 'Most Favored Nation', a status given to a country in international trade agreements

adjective describing the status of a country in international trade agreements

• The Most Favored Nation (MFN) status allows countries to receive equal trade treatment.
• Hey, did you hear about that new MFN trade agreement?
• MFN status is like getting VIP treatment in the trading world.
• Being granted MFN status is like being welcomed into an exclusive club.

noun A person who accepts or follows rules set by others

• The country decided to become a rule taker in order to gain access to the single market.
• He doesn't want to be a rule taker, but he knows it's necessary for now.
• Being a rule taker sucks, but it's better than being completely isolated.
• She felt like a rule taker in her own life, always following someone else's guidelines.