Donald Trump’s tariff announcements and their economic impact are being felt in all sectors and have prompted a statement from one Formula 1 team after their parent company’s announcement
Donald Trump’s international trade tariffs will have no effect on the operations of Haas F1, the American team has confirmed. That is despite an announcement from parent company Haas Automation which has reduced production in the wake of the US Government’s levies.
US President Trump’s tariffs have had a huge effects on stock markets in the US and across the globe with an estimated £8trillion having been wiped from major markets. And they also prompted a statement from US-based Haas Automation which confirmed a hiring freeze as part of the measures it is taking in response.
The machine tool company, founded and run by the F1 team’s owner Gene Haas, announced: “Haas Automation is in the process of studying the full impact of tariffs on our operations. In recent days, we’ve seen a dramatic decrease in demand for our machine tools from both domestic and foreign customers.
“Out of caution, we have reduced production and eliminated overtime at our sole manufacturing plant in Oxnard, California, where we employ 1700 workers and have been in operation since 1983. We have also halted hiring and put new employment requisitions on hold.
“While tariffs will have a significant impact on Haas Automation’s business, we’re optimistic that the Trump Administration will come up with solutions to provide relief for US manufacturers. 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.”
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While the main Haas business is set to be affected by the financial impacts of Trump’s economic and foreign policies, it is understood that the Haas Formula 1 team is not expecting any changes in the near future.
A spokesperson for the team said: “The statement put out by Haas Automation with regards to tariffs and the Trump Administration does not have any impact regarding MoneyGram Haas F1 Team. It’s business as usual regarding the team and there is no change to our development plan, recruiting process and other projects.”
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Haas will be hoping that “business as usual” comment will apply to their results over the coming weeks. Other than a wretched Australian Grand Prix, their form so far this year has been impressive.
Haas currently sit sixth in the constructors’ standings after the first three rounds of the new season. That is one place ahead of their finish in 2024 – the Banbury-based squad had to settle for seventh place having been leapfrogged by Alpine who enjoyed a surge late in the campaign.
The 10 points Esteban Ocon scored by finishing fifth at the Chinese Grand Prix was almost half the total he managed in the entire 2024 season when he was still racing for Alpine. And new rookie team-mate Oliver Bearman has found some early-season consistency with back-to-back points finishes in Shanghai and Japan.
Haas also have a new reserve driver, confirmed ahead of this weekend’s Bahrain Grand Prix. Ryo Hirakawa has also joined from Alpine and will make his debut in first practice on Friday, filling in for Bearman.
