The U.S. dollar dropped across the board on Friday, as investors dumped the currency after U.S. President Donald Trump once again ratcheted up his trade war, recommending that the European Union be hit with 50% tariffs beginning June 1.

The dollar slid Friday, extending this year’s losses to over 7%, after President Donald Trump threatened steep new tariffs of the European Union and revived investor concerns over global trade policy.

Donald Trump's latest tariff threats aren't helping the beleaguered dollar. The currency was lower on Friday—including against the euro, Japanese yen and Canadian dollar—after Trump targeted Apple and the European Union in his latest trade broadside.