Trump threatens 50% tariff on EU

(CNN)– President Trump is threatening to slap a 50% tariff on goods from the European Union.

In a social media post Friday morning, the president said it’s because trade negotiations with the EU are not progressing.

Trump called out what he described as trade barriers, unjustified lawsuits against U.S. companies, and more that have led to a massive trade deficit.

The president said he is recommending the 50% tariff go into effect on June 1.

There was no immediate response from the European Commission.