1. The extent to which one person or group is given more favorable treatment than others. 2. The percentage by which particular imports from one country are subject to lower tariffs than the MFN rate, as in a preferential trading arrangement. Found on http://www-personal.umich.edu/~alandear/glossary/m.html
1. The extent to which one person or group is given more favorable treatment than others. 2. The percentage by which particular imports from one country are subject to lower tariffs than the MFN rate, as in a preferential trading arrangement.