Lakshmi Singh

Celebrities will ascend the stairs of the Metropolitan Museum of Art in New York City, showcasing their interpretations of this year's theme, Fashion is Art.

It's a mega fundraiser for the Costume Institute.

Last year's event brought in more than $31 million, a record.

Billionaire Jeff Bezos and his wife, Lauren Sanchez, are honorary chairs and lead sponsors of the gala, which has provoked an activist group to call for a boycott of the event.

This is NPR News.

Live from NPR News, I'm Lakshmi Singh.

President Trump says he is raising tariffs on European Union cars and trucks from 15 percent to 25 percent starting next week.

The president earlier today.

Trump didn't specify in what way the EU was failing to hold up its end of the bargain.

The tariff announcement comes at a time of persistent tensions between the allies.

Trump has admonished European leaders for not committing more military resources to the Iran war, including the reopening of the Strait of Hormuz.

After Germany's chancellor said Iran has humiliated the U.S., Trump said he was looking at reducing American troops in Germany.

Iran is presenting another proposal for ending the war.

This after President Trump was quoted on Axios rejecting Iran's last offer to open the Strait of Hormuz in exchange for an end to the U.S.

's naval blockade.

Here's NPR's Abba Trawi.

Exxon's earnings for the first quarter were more than $4 billion.

But the company says if you adjust for an accounting fluke, they're actually twice that.

NPR's Camilla Dominovsky reports soaring oil prices these last few months have boosted oil companies' profits in the real world but can mess with how they look on paper.

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