NYC to terminate Trump contracts after Capitol insurrection

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FILE - In this Tuesday, March 15, 2016, file photo, Republican presidential candidate Donald Trump speaks to supporters at his primary election night event at his Mar-a-Lago Club in Palm Beach, Fla. At right is his son Eric Trump. Hits to President Donald Trumps business empire since the deadly riots at the U.S. Capitol are part of a liberal cancel culture, his son Eric told The Associated Press on Tuesday, Jan. 12, 2021, saying his father will leave the presidency with a powerful brand backed by millions of voters who will follow him to the ends of the Earth. (AP Photo/Gerald Herbert, File)

NEW YORK – New York City will terminate business contracts with President Donald Trump after last week's insurrection at the U.S. Capitol, Mayor Bill de Blasio announced Wednesday.

“I’m here to announce that the city of New York is severing all contracts with the Trump Organization,” de Blasio said in an interview on MSNBC.

De Blasio said the Trump Organization earns about $17 million a year in profits from its contracts to run two ice skating rinks and a carousel in Central Park as well as a golf course in the Bronx.

The city can legally terminate a contract if the leadership of a company is engaged in criminal activity, the Democratic mayor said.

“Inciting an insurrection — let’s be very clear, let’s say the words again — inciting an insurrection against the United States government clearly constitutes criminal activity," he said.

A Trump Organization spokesperson said the city can't cancel the contracts.

“The City of New York has no legal right to end our contracts and if they elect to proceed, they will owe The Trump Organization over $30 million dollars," the spokesperson said in an emailed statement. "This is nothing more than political discrimination, an attempt to infringe on the First Amendment and we plan to fight vigorously.”

The move to end Trump's business contracts in the city he formerly called home is the latest example of how the Jan. 6 breach by violent Trump supporters is affecting the Republican president’s business interests.