What is Permanent Normal Trade Relations (PNTR)?
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The status of Permanent Normal Trade Relations (PNTR) is a legal designation in the United States for free trade with a foreign nation.
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In the United States, the name was changed from Most Favoured Nation (MFN) to PNTR in 1998.
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Why in news? US and other members of the Group of Seven (G7) will revoke Russia’s PNTR status to punish Russia for war over Ukraine.