WTO | Understanding the WTO - Anti-dumping, subsidies, safeguards: contingencies, etc

WTO | Understanding the WTO - Anti-dumping, subsidies, safeguards: contingencies, etc: Binding tariffs, and applying them equally to all trading partners (most-favoured-nation treatment, or MFN) are key to the smooth flow of trade in goods. The WTO agreements uphold the principles, but they also allow exceptions — in some circumstances.