A statement from Haas Automation regarding a slowdown of its activities due to tariffs imposed by the Trump Administration “does not have any impact” on the Formula 1 team’s operations.
Haas Automation issued a statement on Tuesday night that outlined the initial fallout as a result of severe tariffs on demand for the company, saying it is in the process of studying the full impact.
“In recent days, we’ve seen a dramatic decrease in demand for our machine tools from both domestic and foreign customers,” the statement read. “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 U.S. manufacturers — solutions that will allow us to continue manufacturing Haas CNC machines in the U.S. while employing thousands of workers at our factory in Oxnard, California, and indirectly at Haas Factory Outlets across America.”
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Going on to explain areas of concern that could have a “catastrophic” impact on the U.S. machine tool industry, the Haas Automation statement led to interest relating to the F1 team, that is owned by Gene Haas and has raised awareness of his machine tooling company globally. However, a team spokesperson confirmed the issues being spoken about by Haas Automation currently do not extend to the F1 outfit, with no change to its operation.
“The statement put out by Haas Automation today with regards to tariffs and the Trump Administration does not have any impact regarding MoneyGram Haas F1 Team,” the spokesperson said. “It’s business as usual regarding the team and there is no change to our development plan, recruiting process and other projects.”
