How to wire a Woods PRO 59104 Timer
You have it backwards

While I can't explain the breaker trips in your setup, the documentation for your timer has the line in going to 0 (with the jumper to 3) and 1, with the load (the wires to the shutoff) connected to 2 and 4.  The way you have it wired won't work anyway, as the motor would be powered through the timer contacts, which would cause the timer to not time 99% of the time.