Methyl cinnamate, also known as methyl-3-phenylpropenoate, is a chemical compound with the CAS number 103 26 4. It falls under the HS code 99020504 and is provided for in subheading 2916.39.20. In this article, we will explore the details of this HS code and its relevance in international trade.
HS codes, or Harmonized System codes, are internationally recognized codes used to classify products for customs purposes. These codes help facilitate the smooth flow of goods across borders by providing a standardized system for identifying and categorizing products.
The HS code 99020504 specifically refers to methyl cinnamate, a compound commonly used in the fragrance and flavor industry. It is derived from cinnamic acid and has a sweet, fruity odor reminiscent of strawberry and cherry. Methyl cinnamate is widely used in perfumes, cosmetics, and food additives.
When it comes to international trade, the HS code plays a crucial role in determining the customs duties and regulations applicable to a particular product. Each country has its own tariff schedule, which outlines the duty rates for different HS codes.
The "Bound / MFN duty rate" for HS code 99020504 is free. This means that there are no import duties imposed on methyl cinnamate when it is traded between countries. The "Bound" rate refers to the maximum duty rate a country can impose, while the "MFN" (Most Favored Nation) rate is the actual duty rate applied.
The concept of "special tariff preference programs" is also relevant to the HS code 99020504. Many countries have established preferential trade agreements or programs that offer reduced or zero tariffs for certain products. These programs aim to promote trade and economic cooperation between participating countries.
Importing and exporting of methyl cinnamate can vary between different US states. Some states may have stricter regulations or additional requirements for the importation or exportation of this chemical compound. It is essential for traders to be aware of these state-specific regulations to ensure compliance and smooth trade operations.
HS code 99020504 represents methyl cinnamate, a chemical compound widely used in the fragrance and flavor industry. This HS code is important for classifying and regulating the import and export of methyl cinnamate across international borders. Understanding the duty rates, tariff preference programs, and state-specific regulations associated with this HS code is crucial for traders and businesses involved in the trade of methyl cinnamate.