F1 team release statement on Trump tariffs as Haas company hit

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F1 team release statement on Trump tariffs as Haas company hit

Haas are based in the US

By Sam Cook.

Wednesday 9 April 2025 19:00

Formula 1 team Haas have issues a statement about the impact of Donald Trump's ongoing tariff announcements.

Trump has announced a vast swathe of tariffs on goods entering the US from over 60 countries, including a massive 104% tariff on goods entering from China after retaliatory tariffs were announced.

Those tariffs came into force earlier on Wednesday, with some countries announcing reciprocal tariffs in response, and others negotiating with the President to try and find a compromise.

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While the picture remains uncertain, it is almost certainly going to drive up prices for US consumers and companies that import parts or other goods from other countries, particularly in the short term.

Car companies in particular are expected to be impacted, with Trump desiring American car manufacturers to use more American parts, rather than importing from elsewhere, with Chinese, Japanese and European car manufacturers subject to his wrath during his announcement last week.

"I just want to inform you that 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 statement read.

"It’s business as usual regarding the team and there is no change to our development plan, recruiting process and other projects."

Haas Automation's Trump statement

The wider company have reportedly reduced production and eliminated overtime at their factory North Carolina, whilst also pausing recruitment of new staff, in reaction to Trump's announcements.

Haas F1 team, however, are a completely separate entity to the wider company, and have bases in both Maranello in Italy, and in the UK.

They are also powered by Ferrari power units, so do not rely on US-based manufacturers for their engines, with Trump's tariffs potentially impacting General Motors/Cadillac more so than Haas.

Luxury sportscar brand Ferrari have announced that they will be putting prices on certain cars up by 10 per cent in response to Trump's tariff announcement, a move that also impacts cars that were already ordered several months ago.

However, like with Haas, the implemented measures by Ferrari are not expected to impact the F1 team, and it is very much business as usual.

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