The global economy is still trying to determine a path forward in light of US President Donald Trump’s ever-changing tariff mandates — and Formula 1 is no exception.

But according to Mercedes F1 team boss Toto Wolff, the team is currently insulated from the worst of the chaos.

Mercedes boss labels Trump tariffs a ‘socio-economic experiment’

Additional reporting by Thomas Maher

Trying to keep tabs on the ongoing tariff situation created by U.S. President Donald Trump can be challenging, but one thing is certain: The global economy is on high alert.

Since assuming his presidency in late January, Trump has implemented import tariffs on nearly every country in the world, only to renege on those tariffs, alter them, or suggest that they can be altered based on later discussions with the countries in question.

Trying to make any big predictions about what could happen is challenging with so many changes, but many industries — including Formula 1 — are keeping tabs on the situation and steeling themselves for any potential issues.

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One such person is Toto Wolff, team principal of the Mercedes F1 team.

At the Saudi Arabian Grand Prix, he was asked for his perspective on the potential tariffs, and how they could impact the world F1.

“My background is in finance and that’s why I’m looking at this,” Wolff said.

“What’s happening, what’s panning out in front of our eyes and on a global level, is almost like a socio-economic experiment.

“It’s quite entertaining to be reading CNN and then FOX News and try to figure out what’s actually happening.”

As far as the team’s partners go, he said, “You clearly see a negative sentiment of some of our partners in the US because they don’t know what it means for their business, how the tariffs and the geopolitical situation is going to impact their business going forward.

It hasn’t hit us yet. We have a group of great partners at Mercedes that stands 100% behind Formula 1. It’s a very dynamic situation in terms of the auto tariffs.”

Wolff has echoed Red Bull Racing team principal Christian Horner, who noted that he, too, is keeping tabs on the tariffs but that thus far, it has been business as usual.

Read next: What Trump’s tariffs could mean for F1 teams and American motorsport