Haas Automation Faces Tariff Turbulence but F1 Team Remains Unshaken

Despite a plunge in demand due to U.S. trade tariffs impacting Haas Automation, the Haas Formula One team continues operations without any disruption. The company has adapted its production strategies while remaining hopeful for tariff relief from the administration. The racing team stays on track with its plans.

The Haas Formula One team is maintaining its operations despite the machine tools business owned by U.S.-based Gene Haas facing a significant decline in demand attributed to President Donald Trump's trade tariffs. Haas Automation announced measures to curb production, such as eliminating overtime and freezing hiring, as they scrutinize tariff impacts.

Nevertheless, the company remains optimistic about the administration's potential solutions to aid U.S. manufacturers. Employing 1,700 workers in its Oxnard plant, Haas confirms the decreased demand stems from both domestic and international sectors.

As the Bahrain Grand Prix approaches, a spokesman reiterated there is no impact on the Haas F1 team's development, recruitment, or other projects. With Ferrari engines and a partnership with Toyota, the smallest Formula One team celebrates its 10th season, confident in its operational stability amidst industry challenges.

(With inputs from agencies.)