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Associated Press, July 11, 2018
By Christopher Sherman

President-elect Andres Manuel Lopez Obrador said Wednesday he will cancel the pending purchase by Mexico’s navy of eight armed Lockheed Martin MH-60R helicopters from the U.S. government. Lopez Obrador mentioned nixing the planned $1.2 billion deal as an example of extensive cost-cutting measures his government will undertake.

“That purchase is going to be cancelled because we can’t make that expense,” he said during a wide-ranging news conference. Read more.