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.

To sweeten the deal, EU officials are also willing to extend a 2020 tariff-free arrangement on US lobster imports, as reported by the FT. That pact, which expires in July, helped

The European Union was expected to share a revised trade proposal with the US, as it aims to inject momentum in talks with President Donald Trump’s administration amid lingering skepticism that a transatlantic deal can be reached.

The European Commission set out plans on Wednesday to remove barriers to business within the European Union as part of a push to boost competitiveness and counteract the impact of U.S. tariffs.