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.

A three-judge panel of the U.S. Court of International Trade holds the first hearing on the challenges Tuesday morning in New York. Five small businesses are asking the court to block the sweeping import taxes that Trump announced April 2 – “Liberation Day,’’ he called it.