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.

Major stock indexes and the dollar eased on Friday after U.S. President Donald Trump unleashed his latest trade threats, recommending 50% tariffs on European Union imports from June 1 and considering a 25% tariff on any Apple iPhones made outside the U.

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.