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By Saajan Jogia
Sports Contributing Writer
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Amid the newly announced U.S. tariffs, NASCAR's new Commissioner Steve Phelps has revealed that the sport is keeping a close watch on how the changes are affecting the racing industry.
The U.S. government revealed new tariffs on several countries across the world this week, which could have an impact on the automotive sector and ultimately on NASCAR teams that rely on parts sourced from foreign countries.
Phelps, who was promoted from the post of President to the newly created position of Commissioner, said that NASCAR is heading into an "unknown" considering the macroeconomic changes, and thus it will be closely monitoring the changes being brought about by the tariffs.
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When journalist Nate Ryan asked Phelps on NASCAR's Hauler Talk podcast how the new tariffs may affect teams sourcing parts for the Next Gen cars from different locations in the future, the commissioner said:
"I don't know the answer to that question. It's something that we are obviously going to watch very closely and I'm sure the folks (at other teams) are having discussions (about). It's an unknown. Like I had a conversation with Rick Hendrick and obviously his base business is affected by the tariffs. What that looks like for him, he doesn't know, but you can bet he's monitoring that on a daily basis and we're doing the same."
Sports Business Journal reported that a 2021 list showcased all NASCAR suppliers, including the 26 single-source suppliers from which teams must purchase components. Some suppliers are based in foreign locations, such as a brake systems supplier, AP Racing, which is based in the U.K.
With a 25% tariff on cars manufactured outside the U.S., several automotive giants such as Ford and GM have been reportedly making last-minute appeals to the government in hopes of reversing the decision considering the impact it could have on the auto industry. As a result, the real impact of these tariffs on stock car racing remains to be seen.
Speaking of NASCAR, the recent reorganization efforts saw Phelps take the role of Commissioner, while Chief Operating Officer Steve O'Donnell was promoted to the role of President.
However, the ownership of the sport remains unchanged. Jim France will continue to be the Chairman and CEO, while Lesa France Kennedy will continue to perform the role of Vice Chair. Newsweek Sports recently reported Jim France's statement on the managerial changes. He said:
"The race fan is, by far, our most important stakeholder, and few leaders understand that more than Steve Phelps and Steve O'Donnell. Their leadership will be key as we grow the sport and solidify our standing as a global leader in sports and entertainment."
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