The Most-Favoured-Nation (MFN) principle has historically been instrumental in promoting stability and equitable trade conditions. In recent decades there has been a rise in bilateral and regional trade agreements, which deviate from the MFN principle in providing more favourable tariff...

The Most-Favoured-Nation (MFN) principle has historically been instrumental in promoting stability and equitable trade conditions. In recent decades there has been a rise in bilateral and regional trade agreements, which deviate from the MFN principle in providing more favourable tariff...

This paper reviews the U.S.-Canada softwood lumber dispute over the past two decades by outlining the key developments and critically appraising the arguments put forward by both countries. It also presents a welfare analysis of lumber trade distortions. Given the importance of lumber trade...