At the G20 trade ministers meeting in Milwaukee on September 30 and October 1, 2026, the United States initiated discussions of broad reforms of the Most Favored Nation (MFN) principle, the system of published, unconditional tariff rates that has underpinned global trade since World War II. This is a new topic for the G20, since MFN discussions have usually taken place within the World Trade Organization (WTO). While many G20 members called MFN a cornerstone of the multilateral trading system, others expressed a willingness to think carefully about making changes to the MFN principle, according to the G20 Chair’s Statement drafted and circulated by the United States, which holds the G20 presidency in 2026. In remarks reported by Reuters, US Trade Representative Jamieson Greer said the US had not sought a joint statement on the issue because it is a longer-term conversation.
