Economy China slams US 'blackmailing' as Trump issues new trade threat Updated : June 20, 2018 06:37 AM IST Trump's latest move, as Washington fights trade battles on several fronts, was unexpectedly swift and sharp. It was retaliation, he said, for China's decision to raise tariffs on $50 billion in US goods, which came after Trump announced similar tariffs on Chinese goods on Friday. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.