Thermostat Recycling Corp. Issues Statement on Proposed Chinese Tariffs
The $50 billion worth of Chinese tariffs are expected to include Automatic Thermostats (90321000) at 25 percent
FORT WASHINGTON, Pa. — Ryan Kiscaden, executive director, Thermostat Recycling Corp. (TRC), released the following statement regarding President Donald Trump’s announcement on $50 billion worth of Chinese tariffs, which include Automatic Thermostats (90321000) at 25 percent.
“The administration’s action will hurt the speed at which mercury-containing thermostats become waste,” he said. “The recycling of mercury-containing thermostats is directly tied to new thermostat sales. As the new unit is installed, it replaces that which was on the wall. Often times, old thermostats stay in service until the entire HVAC system is replaced or consumers wish to upgrade their thermostat. Unfortunately, these proposed tariffs will lead to higher consumer prices for thermostats and threatens the hockey stick growth of the smart thermostat segment for new thermostats.