(Reuters) -President Donald Trump said on Friday that he is recommending a straight 50% tariff on goods from the European Union starting on June 1, saying the EU has been hard to deal with on trade.

U.S. President Donald Trump on Friday threatened the European Union with a 50 percent tariff on goods starting June 1. “The European Union, which was formed with the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with,” he wrote in a post on social media.

The euro pared gains sharply on Friday, after U.S. President Donald Trump once again ratcheted up his trade war, recommending the European Union be hit with 50% tariffs beginning June 1, rekindling concern about the impact of duties on the world economy and global trade.