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Liu files a suit against Macro Sales,Inc.,in a New Jersey state court based on a Web site through which New Jersey residents can do busi?ness with Macro.The court will most likely exercise jurisdiction over Macro if the interactivity of the site is seen as
Most-Favored-Nation Status
A trade status granting a nation the best trading terms available to any other nation, such as lowest tariffs or highest import quotas.
Negotiated Tariff Rates
Tariff rates determined through bargaining between countries, rather than set unilaterally, often resulting in lower duties.
Free-Trade Zone
A designated area where goods can be imported, stored, handled, manufactured, or reconfigured without being subject to import duties.
GATT
The General Agreement on Tariffs and Trade (GATT) was a multilateral agreement aimed at reducing global trade barriers and promoting international trade through the reduction of tariffs and other trade restrictions.
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