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.

Trump imposed the new tariffs on April 2, saying the U.S. trade deficit was a "national emergency" that justified a 10% across-the-board tariff on all imports, with higher tariff rates for countries with which the U.S. has the largest trade deficits, particularly China.

The U.S. and China agreed to a 90-day pause in their trade conflict. Here's what China's tariffs on the U.S. looked like in 2024.

By Farah Master, Casey Hall and Lisa Baertlein HONG KONG/SHANGHAI/LOS ANGELES (Reuters) -The U.S. will cut the "de minimis" tariff for low-value shipments from China to as low as 30%, according to a White House executive order and industry experts,