A statement from HAAS Automation regarding a slowdown in tariff-induced activities imposed by the Trump administration “does not affect the operation of Formula 1 teams.”
Haas Automation issued a statement Tuesday night out out the first fallout as a result of the severe tariffs requested by the company, saying it is studying the full impact.
“We have seen a dramatic decline in machine tools demand from domestic and international customers recently,” the statement read. “With caution, we reduced production and eliminated overtime at our only manufacturing plant in Oxnard, California, where we employ 1,700 workers and have been in operation since 1983. We have also stopped employment and put on hold on new employment requests.
“While tariffs will have a major impact on Haas Automation’s business, we are optimistic that the Trump administration will come up with a solution that will provide relief to US manufacturers. This will allow the solution that will continue to manufacture US HAAS CNC machines, employ thousands of workers at their Oxard, California factories, and Haas Factory Outlets employ thousands of workers at their American factories.”
It seeks to explain areas of concern that could have a “devastating” impact on the US machine tool industry. The HAAS Automation statement led to interest related to the Formula One team owned by Gene Haas and is raising global awareness of his machinery and tool company. However, a team spokesman confirmed that the issues spoken by HAAS automation do not currently extend to F1 costumes and that there have been no changes to its operations.
“The statement released today by Haas Automation regarding tariffs and the Trump administration has no impact on the Moneygram Haas Formula 1 team,” the spokesman said. “It’s a normal business with teams and there’s no change in the development plan, recruitment process, and other projects.”