The US-owned Haas Formula 1 (F1) motor racing team has announced it will be carrying on as usual despite owner Gene Haas’ machine tools business reporting a “dramatic decrease in demand from both domestic and foreign customers” due to US President Donald Trump’s trade tariffs.
A Haas statement had said that it had cut down on production, eliminated overtime, and stopped hiring at its sole manufacturing plant in Oxnard, California, while monitoring the impact of tariffs on its operations.
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The company clarified that “tariffs will have a significant impact on Haas Automation’s business,” however, it is “optimistic that the Trump Administration will come up with solutions to provide relief for US manufacturers” that will allow Haas to continue manufacturing in the US.
The statement read: “Haas is particularly concerned about the potential reduction of tariffs on machine tools from certain countries, such as Japan, Taiwan, and Korea, without a corresponding reduction in tariff rates for imported raw materials and components into the US.
“Machine tools are essential to the entire manufacturing infrastructure in the US. We expect the Trump Administration to follow through on its promise to protect American manufacturing by supporting the US machine tool industry, specifically (1) tariff exemptions for raw materials and components vital to the US machine tool industry, and (2) maintaining tariffs for imported machine tools.”
A Haas F1 team spokesperson also claimed that the statement had no impact on the Haas F1 team itself.
The company has 1,700 workers employed at its Oxnard factory and more at factory outlets across the United States.
Haas has long been one of the backmarkers on the F1 grid and has struggled to match both the on-track performance of its rivals and the commercial performance.
In the 2024 campaign, the team finished seventh overall, scoring 58 points in a far more competitive display than in recent years.
The F1 team will continue its season this weekend at the Bahrain Grand Prix on April 13.
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