The president has backtracked repeatedly on his tariff policies, creating a whiplash with downsides and few clear benefits so far.

President Donald Trump’s sudden move to lower tariffs on goods from China to 30% from 145% has thrown a lifeline to America’s small businesses who were running low on inventory — and cash.

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.