By Dietrich Knauth, Blake Brittain NEW YORK (Reuters) -Five American small businesses asked a U.S. court on Tuesday to halt President Donald Trump's "Liberation Day" tariffs, arguing that he overstepped his powers by declaring a national emergency to impose across-the-board taxes on imports from nations that sell more to the United States than they buy.

US President Donald Trump’s “Liberation Day” tariffs face a big court test Tuesday, as a three-judge panel on an obscure court in Manhattan hears a challenge from small businesses to the sweeping levi...

America has agreed to cut the “reciprocal” tariffs it imposed on China last month from 125% to a more digestible 10% for at least 90 days.

President Donald Trump has announced a significant reduction in tariffs on low-value imports from China. This change, effective May 14, aims to lower costs for consumers and is part of a 90-day truce between the two economic giants.

Under the new 90-day agreement, tariffs on Chinese goods will come down to 30 percent; China’s tariffs on American goods will likewise decline to 10 percent.