NPR News: 05-01-2026 4PM EDT
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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.
We raised the tariffs because they were not, as usual, they were not adhering to the agreement that we have.
What are President Trump's new tariff announcements regarding the EU?
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.
The previous Iranian proposal would have seen trapped oil and gas tankers moving again through the vital Strait of Hormuz, but it would have pushed talks on Iran's nuclear program to a later stage. Trump, according to comments he made to Axios, rejected that offer after meeting with his national security team on Monday. Iran's state news agency, IRNA, says Iran has now delivered a new text for negotiation to mediator Pakistan with the aim of ending the war that the U.S. and Israel launched two months ago. Iran's president, however, was quoted by Erna saying Iran's ready for diplomacy if the U.S. ends its maximalist approach. The U.S. and Iran have only met once since the ceasefire came into effect.
Those talks in Pakistan ended without an agreement. Aya Baltarawi, NPR News, Dubai.
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.
Big oil companies buy and sell promises for future oil as well as physical barrels of oil. When prices suddenly spike, Exxon logs losses on paper trades and gets profits on physical sales. But the losses show up before the profits, so they're doing even better than the numbers make it seem. Exxon CEO Darren Woods says he expects oil prices to rise further.
I think it's obvious to most that if you look at the unprecedented disruption in the world's supply of oil and natural gas, the market hasn't seen the full impact of that yet.
High oil prices have pushed up gasoline prices in the U.S., made worse in recent days by a refinery outage in the Midwest. Camila Dominovsky, NPR News.
U.S. stocks have ended the day, mixed with the Dow closing down 152 points at 49,499. The Nasdaq had gained more than 200 points. You're listening to NPR News. Early voting begins tomorrow in most races in Louisiana, except the U.S. House primaries in that state. Earlier this week, the Supreme Court struck down the state's redrawn map that created a second black majority congressional district. Annual May Day celebrations around the globe. Massive crowds in Turkey, France, Cuba, Mexico, the U.S. and other countries heard here through the Associated Press staging rallies in support of stronger labor rights, immigrant protections and other causes. Pope Leo has appointed a new bishop of West Virginia. He is the first Salvadoran bishop in the country and migrated to the United States in 1990 without legal status.
NPR's Sarah Ventry has more.
Now an American citizen, Bishop Evelio Menjivar Ayala came to the U.S.
How is the U.S. responding to Iran's proposals in the ongoing conflict?
as an asylum seeker, and his resume is unlike many others. In addition to his master's in theology and his work as the Auxiliary Bishop of Washington, he also did janitorial work, construction, and painting. And he says, That helped me to understand labor, hard labor, to learn to work hard. Menjivar has openly criticized the Trump administration's immigration policies and demonstrated against mass deportations, emphasizing the need to uphold human dignity.
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