The Mexico Ultimatum: President Trump last night backed off his threat to impose punishing tariffs on Mexican goods, saying the administration had reached a deal with Mexico to limit the flow of  migrants coming over the southern border.

  He said the details will be released later.

  The President  tweeted, “The Tariffs scheduled to be implemented by the U.S. on Monday, against Mexico, are hereby indefinitely suspended. Mexico, in turn, has agreed to take strong measures to stem the tide of Migration through Mexico, and to our Southern Border.”

  Trump’s threatened tariffs sent ripples of fear through the auto industry and agricultural importers. Tariffs on Mexican imports would raise the price on everything from tequila and avocados to clothing and cars, upsetting the relationship between the US and its biggest trading partner.

On the High Seas: A US Navy cruiser came close to colliding with a Russian destroyer yesterday in a daylight confrontation on open water and international territory in the Philippine Sea.

  The incident appeared to be intentional on the part of the Russian ship.

  The Navy says the cruiser Chancellorsville was moving in a straight line to accept a helicopter landing when it was overtaken from the right side by the Russian ship, which veered in to within 50 to 100 feet. The American ship slammed its engines into reverse.

  A couple of Russian sailors were casually sunbathing on the rear deck when it all happened.

  The Russians claim they had the right of way, although it’s clear from the video that they did not, and the first rule of ship navigation anyway is just to stay clear.

Econ 101:Yesterday’s jobs report from the labor department indicates that the US economy may be beginning to tremble and shake. The economy added only 75,000 jobs last month, less than half the 180,000 forecast by economists. Worse, 

  The April numbers were revised down by 75,000, indicating that the explosive spring job creation rates were not what they seemed. The average  monthly job creation number is 164,000 so far this year, compared with 223,000 last year.

   The stock market loved the bad news. The Dow Jones rose 260 points on hopes that the Federal Reserve will lower interest rates to spur the economy.

Thanks but No Thanks:The University of Alabama stripped the name of a rich donor from its law school and returned his gift of $21.5 million after he urged students to boycott over the state’s recently-passed abortion ban. Hugh Culverhouse Jr. originally pledged a total of $26.5 million, the largest gift in the university’s 187-years.

The News Roundup: After failing to push through a Brexit deal, British Prime Minster Theresa May formally stepped down yesterday. Former London mayor Boris Johnson, the British Trump, is vying to replace her. May continues to serve until a replacement is named. — A former Minneapolis police officer was sentenced to 12 ½ years in prison for shooting and killing a woman who had called 911 about an assault in the alley behind her home. — NASA announced that it wants to take tourists to the International Space Station. It may cost as much as $58 million for a seat in a rocket plus $35,000 a night, although you might be able to get it cheaper on Trivago. 

Donald the Comic Insult Dog:Returning from Europe on Air Force One, President Trump called House Speaker Nancy Pelosi “a disgrace,” avenging her statement that she’d like to see the President go to jail.

  “Nervous Nancy Pelosi is a disgrace to herself and her family for having made such a disgusting statement, especially since I was with foreign leaders overseas,” the president tweeted. Remember this was the guy who said Hillary Clinton should go to jail. 

  Trump’s retort to Pelosi came after he gave an interview to Fox’s Laura Ingraham against the background of American war graves in Normandy. With white crosses behind him, he complained about Mexico, illegal immigration, drug trafficking, and the Mueller report. Inappropriate behavior is inappropriate only when someone other than Trump does it.

  Note also that Trump has a new nickname for Speaker Pelosi; “Nervous Nancy.”Trump has coined nearly 100 insulting nicknames for perceived political enemies, members of the press, and foreign adversaries. He often insults their looks or intelligence. A sampling:

-Joe Biden: “Sleepy Joe”

-Pete Buttigieg: “Alfred E. Newman”

-James Comey:  “Lyin’ James Comey”

-Jerrold Nadler: “Fat Jerry”

-Barack Obama: “Cheatin’ Obama”

-Bernie Sanders: “Crazy Bernie”

-Elizabeth Warren: “Pocahontas”

-Kim Jong-un: “Little Rocket Man”

-NBC’s Chuck Todd: “Sleepy Eyes”

-CNN’s Don Lemon: “Sour Lemon”

-Rep. Maxine Waters: “Low IQ”

-Bashar al Assad: “Animal Assad”

-Rep. Adam Schiff: “Pencil Neck”

  Denigration is the tool of dictators.