The EU seeks to reform the WTO's "most-favored-nation" trade rules

       According to a report by the Financial Times on January 21st, the European Union has proposed to give WTO members more freedom to raise tariffs. This is the EU's boldest move to address the shaky multilateral trading order. The proposal to abandon the "Most-Favored-Nation" (MFN) principle (under which WTO members must treat each other equally) marks a significant shift in the EU's stance, as it has long defended this concept. EU Trade Commissioner Šefčovič wrote in an article in the Financial Times: "We need an honest discussion about the link between MFN status and reciprocity, taking into account the actual level of market opening of member states, their commitment to fair competition and transparency, and their changing influence in global trade." WTO members should be able to change tariff levels more easily to address "threats to our economies." (Economic and Commercial Office of the Embassy of the People's Republic of China in Ireland)