NPR News Now — May 1, 2026, 4PM EDT

Host: Lakshmi Singh
Length: 5 minutes
Theme: The episode covers key global and domestic headlines including U.S.-EU tariff tensions, developments in the Iran war, soaring oil profits, U.S. stock market performance, May Day rallies, and the appointment of the first Salvadoran bishop in the U.S.

Key Discussion Points & Insights

1. U.S. Raises Tariffs on EU Cars and Trucks

• [00:01–00:21]
  • Announcement: President Trump declares a hike in tariffs on European Union cars and trucks from 15% to 25%, set to start next week.
  • Reasoning:
    • Donald Trump (00:15): “Tariffs because they were not as usual. They were not adhering to the agreement that we have.”
  • Context: Lack of specifics from Trump on how the EU allegedly failed the agreement. Occurs amid ongoing tensions over military commitments to the Iran war.
  • Military Tensions:
    • Trump criticizes European leaders for insufficient military support, particularly regarding the reopening of the Strait of Hormuz.
    • He considers reducing U.S. troop presence in Germany after Germany’s chancellor comments on the Iran situation.

2. Diplomatic Moves in the Iran War

• [00:21–01:43]
  • Stalled Negotiations:
    • Iran presents a new proposal via Pakistan to end the ongoing war with the U.S. and Israel, replacing an earlier offer that included reopening the Strait of Hormuz in exchange for lifting the U.S. naval blockade.
    • Previous talks in Pakistan ended without an agreement; the U.S. rejected Iran’s last offer, preferring not to postpone discussion of Iran's nuclear program.
  • Diplomatic Posture:
    • Iran signals willingness for diplomacy if the U.S. ends its “maximalist approach.”
    • Aba Trawi (01:28): “Iran’s president, however, was quoted by Ernest saying Iran's ready for diplomacy if the US ends its maximalist approach.”

3. Exxon’s Profits Surge Amid High Oil Prices

• [01:43–02:46]
  • Financial Report: Exxon’s first quarter earnings are over $4 billion, but the company claims adjusted profits are actually double due to timing quirks in accounting.
  • Market Impact: High oil prices boost profits but create reporting anomalies—losses from paper trades show up before actual profits from physical sales.
  • Outlook:
    • Darren Woods, Exxon CEO (02:24): “I think it’s obvious to most that if you look at the unprecedented disruption in and the world’s supply of oil and natural gas, the market hasn’t seen the full impact of that yet.”
  • Domestic Impact: Gasoline prices in the U.S. rise further, exacerbated by a Midwest refinery outage.

4. U.S. Stock Market Update

• [02:46–03:48]
  • Summary: Markets end mixed.
    • Dow closes down 152 points at 49,499.
    • NASDAQ rises over 200 points.

5. Political & Social Developments

• Early Voting & Supreme Court Decision
  • [02:46–03:48] Early voting begins in Louisiana races except for U.S. House primaries due to a Supreme Court ruling overturning new congressional maps intended to create a second Black-majority district.
• May Day Rallies Worldwide
  • Large crowds rally globally for labor rights and immigrant protections in Turkey, France, Cuba, Mexico, the U.S., and more.

6. Landmark Catholic Appointment: First Salvadoran Bishop in the U.S.

• [03:48–04:37]
  • Profile: Pope Leo appoints Bishop Avelio Menhivar Ayala to West Virginia, the first Salvadoran in this role in the U.S.; immigrated as an asylum seeker in 1990.
  • Personal Journey:
    • Bishop Avelio Menhivar Ayala (04:06): “And he says that helped me to understand labor, hard labor, to learn to work hard.”
    • His background includes work as a janitor, in construction, and painting.
  • Advocacy:
    • Menhivar has openly criticized Trump-era immigration policies, fighting against mass deportations and emphasizing dignity for immigrants.

Notable Quotes & Memorable Moments

• President Trump on Tariffs (00:15)
  “Tariffs because they were not as usual. They were not adhering to the agreement that we have.”
• Aba Trawi, NPR, on Iran’s Position (01:28)
  “Iran’s president, however, was quoted by Ernest saying Iran's ready for diplomacy if the US ends its maximalist approach.”
• Darren Woods, Exxon CEO, on Oil Supply (02:24)
  “I think it’s obvious to most that if you look at the unprecedented disruption in and the world’s supply of oil and natural gas, the market hasn’t seen the full impact of that yet.”
• Bishop Avelio Menhivar Ayala on His Work Ethic (04:06)
  “And he says that helped me to understand labor, hard labor, to learn to work hard.”

Important Timestamps

• [00:01] — U.S. raises tariffs on EU cars/trucks
• [00:21] — Tensions over Iran; military and diplomatic updates
• [01:43] — Exxon Q1 profits and the effect of oil prices
• [02:46] — U.S. stock market update; early voting & SCOTUS decision
• [03:48] — First Salvadoran bishop in U.S.; immigration advocacy

For further detail on each story, refer to NPR’s continued hourly updates.