F1 team owner sends warning over Donald Trump's tariffs as sport braced for massive impact

The owner of a Formula One team has issued a statement revealing the damaging impact that Donald Trump's tariffs are having on the sport.

American president Trump caused chaos in global economics on Wednesday, as he announced he would be introducing a series of new reciprocal tariffs on several countries across the world.

The new tariffs led to crashes across many of the world's biggest stock market indexes, including both the FTSE 100 in the UK and the S&P 500 in the US, causing panic for many business owners.

And now, the true impact that Trump's tariffs could have on sport has been revealed, as a Formula One team owner has spoken out the reveal how they have affected his manufacturer.

Since arriving to the Formula One grid in 2016, it's safe to say that Haas have struggled to shake things up in the sport much.

In 193 races, the American team have never had a driver on the podium, with their highest finish in the Constructors' Championship being fifth, achieved in the 2018 season.

But things could be set to get worse for Haas Automation, President Gene Haas and the company have confirmed in an official statement that they have been significantly impacted by Trump's tariffs.

It read: "In recent days, we've seen a dramatic decrease in demand for our machine tools from both domestic and foreign customers. Out of caution, we have reduced production and eliminated overtime at our sole manufacturring 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 US manufacturers.

19-year-old Oliver Bearman has impressed since joining Haas this season. (Image: Getty)

"Haas Automation is particularly concerned about the potential reduction of tariffs on machine tolls from certain countries, such as Japan, Taiwan and Korea, without a corresponding reduction in tariff rates for imported raw materials and components into the US.

"Such a scenario would be catastrophic to the $5billion US machine tool industry, which is a key component of US national security."

It is unclear exactly how issues with Haas Automation's income will impact the Formula One team, but with new teammates Esteban Ocon and Oliver Bearman showing promise in the opening races of the 2025 season, the timing could not be worse.