What is the term for preferential tariff treatment given to developing countries by developed nations?

The term for preferential tariff treatment given to developing countries by developed nations is the Generalized System of Preferences. It is commonly abbreviated GSP.

GSP programs allow eligible developing-country exports to enter a developed-country market at reduced or zero tariff rates. The goal is to encourage industrialization, export growth, and closer participation in international trade by lowering the cost of imported goods from those economies.

The idea emerged prominently through the United Nations Conference on Trade and Development in the 1960s, and the first national schemes began appearing in the early 1970s. GSP is not one single worldwide tariff schedule; each preference-granting country or bloc sets its own eligible countries, products, rules of origin, and limits.

A common mix-up is Most-Favored-Nation treatment. MFN generally requires equal tariff treatment among trading partners, while GSP is deliberately preferential and may give developing countries better access. Special Drawing Rights, by contrast, are an International Monetary Fund reserve asset, not a tariff program.