Top economist El-Erian says tariffs have put the era of U.S. exceptionalism ‘on pause’

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• Top economist Mohamed El-Erian said U.S. exceptionalism was “on pause” and warned about the negative effects of a prolonged trade war. He said tariffs could be used as a tool for renegotiating better trade terms, but a longer trade war could harm the U.S. instead of protecting U.S. industry.

Mohamed El-Erian, chief economic advisor at Allianz, said the era of U.S. exceptionalism is at a standstill, although it’s still not over.