How Trump's tariffs might impact sport

"It's potentially the difference between life and death."

The words of a "hugely frustrated" Lynn Calder - the head of Ineos Automotive, the car company owned by Manchester United minority shareholder Sir Jim Ratcliffe - when talking about the impact United States tariffs would have on the business.

With its manufacturing based in , the company now faces the prospect of 25% tariffs being imposed on vehicles exported to the crucial American market, with Calder itting it was "vulnerable to tariffs" and needed "direct and urgent political intervention"., external

Her stark warning was a reminder of the effect the duties introduced by US President Donald Trump will have on the wide range of industries linked to sport through investment or sponsorship.

Global stock markets have fallen as investors reacted amid fears of inflation, but beyond the wider economic turmoil, how else could the ripples of a trade war affect the world of sport?

Trump's so-called 'Liberation Day' could have ramifications for a club such as Manchester United in other ways.

"It has $650m of loans from the US because the club is listed in New York," football finance expert Kieran Maguire told BBC Sport.

"If the Trump istration's tariffs have a positive impact on the US dollar and it strengthens, that means the value of those loans in sterling will increase, and this could hit United's s and have implications for Profit and Sustainability rules (PSR) that limit clubs' losses.

"In the 2022 s there was a £58m cost due to foreign exchange movements on these loans. So the United board will be watching with interest as to what happens in of the market reaction to these tariffs as far as global exchange rates are concerned."

The US is set to stage some of the world's biggest sports events over the next few years, including the 2026 World Cup and 2028 LA Olympics and Paralympics.

These events are meant to provide overseas businesses with a key opportunity to raise their profile and boost sales in the US.

Korean car manufacturer Hyundai Group, for instance, will look to take advantage of its sponsorship deal with football governing body Fifa during the Club World Cup this year, and then the World Cup in 2026. But could Trump's aggressive trade policies make such businesses think again?

"I suspect some sponsors are now re-assessing how they 'activate' such deals in the US, given the trade barriers that have now been imposed," says John Zerafa, a sports event bid strategist.

"Why would a sponsor spend millions of pounds doing so if it is now prohibitive to sell in America">