Owner of Haas F1 Team reveals financial crisis following measures taken by the Trump administration

Owner of Haas F1 Team reveals financial crisis due to tariffs imposed by Donald Trump (X @HaasF1Team)

The American company Haas Automation, responsible for the Haas team in Formula 1, revealed that it is facing financial difficulties due to the tariffs imposed by the U.S. government on imported products.

The measure has led to a sharp decline in demand for its machine tools, resulting in reduced production, suspension of hiring, and elimination of overtime. The company fears that the reduction of tariffs on machine tools from countries like Japan, Taiwan, and South Korea, without an equivalent relief for imported components, could severely damage the U.S. industry in the sector.

“This scenario would be catastrophic for the U.S. machine tool industry, valued at $5 billion, which is a key component of U.S. national security,” Haas Automation said in a statement.

Despite the impacts on the parent company, Haas F1 Team stated that the situation does not affect the team’s operations in Formula 1. According to a spokesperson, development and recruitment plans are proceeding normally without changes for this season. The team also emphasized that the challenges faced by Haas Automation are not affecting the management or current sports projects.

Founded in 2016, Haas F1 is currently the only American team in Formula 1 and achieved its best placement in the constructors’ championship in 2018, finishing in fifth place. However, in the upcoming season, it will no longer be the only representative of the country in the category, as Cadillac from General Motors has received approval to join the grid.

Source: Globo Esporte | Photo: X @HaasF1Team | This content was created with the help of AI and reviewed by the editorial team