Apr.28 (GMM) Formula 1 is nervously watching developments in United States politics.
Recently, Haas Automation – whose founder Gene Haas also owns the Haas F1 team – expressed grave concerns about sweeping international tariffs imposed by the Trump administration.
The US government subsequently installed a 90-day pause, reducing the baseline tariff figure to 10 percent – but tariffs on Chinese imports were accelerated to an incredible 145 percent.
Donald Trump has also said an extension to the current 90-day pause, which expires in July, is “unlikely”.
So with Formula 1 now heavily invested in the United States, other teams apart from Haas are also now expressing concern about the impact – also on the global economy as a whole.
Particular concern has been aimed at the Racing Bulls team – whose two naming sponsors Visa and Cash App are both American. “Honestly, for us, until now, no big impact,” team CEO Peter Bayer insisted.
“We have US-based sponsors who are analysing the situation carefully, but we’re not expecting any big effects for the time being, also because I think there’s huge uncertainty about what’s actually going to happen with these tariffs, whether they’ll come, to what extent, and where.
“I think everyone is probably in a holding pattern, but for the time being, no big effect.”
Another team with a big American sponsor – HP – is Ferrari.
“For sure we have US sponsors, but also a lot of US suppliers, sometimes buying raw materials in China,” said team boss Frederic Vasseur. “And for sure this is creating a kind of uncertainty for the future.
“But we have open discussions with them and try to anticipate every single issue. But it’s true – it could be a tricky one.”
Aston Martin team boss Andy Cowell also commented: “The global economy is going through a turbulent time. So we’re watching, trying to react to what’s going on, but I imagine it will calm down going forward.”
Some in Formula 1 have noticed other impacts of the latest Trump administration ahead of this weekend’s grand prix in Miami.
Previously, a work visa was all that was required to enter the country to work at the grand prix, but US authorities are suddenly now demanding the submission of personal data and detailed information about travel intentions.
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