Three judges on the U.S. Court of International Trade spent about two hours considering a legal challenge by a group of small businesses to Trump’s tariffs, which have unleashed

The move by the Trump administration to lower tariffs on goods from China to 30% from 120%, still offers limited reprieve for US small businesses, who remain cautious as tariffs are still sky high by historical levels and are also pressuring profits.

Even so, a rollback of some levies since "Liberation Day" may reduce the impact on inflation. Trump paused a large swath of so-called "reciprocal tariffs" within days of the announcement. On Monday, Trump temporarily slashed tariffs on China from 145% to 30%.

A coalition of small businesses challenged President Donald Trump's tariffs at the Court of International Trade, arguing that the emergency Trump declared to justify them was unlawful.

The Trump administration has made moves to ease tariff tensions with China but new reports indicate that prices, including for cars, are on the rise.

The Senate rejected a resolution Wednesday aimed at overturning President Donald Trump‘s global tariff emergency, a legislative win for the White House after a similar measure passed four weeks earlier.

President Trump’s administration is reducing tariffs on small packages from China from 120 percent to 54 percent in light of the three-month trade truce with Beijing. The White House announced the change in a late Monday executive order,

Commerce Secretary Howard Lutnick has tried to downplay economic concerns as the U.S. and China engage in trade talks.