Trump calls New York Democratic mayoral candidate Zohran Mamdani 'a communist'
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Trump calls New York Democratic mayoral candidate Zohran Mamdani 'a communist'

June 27, 2025
05:52 PM
5 min read
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Some New York investors and business leaders are dismayed that democratic socialist Zohram Mamdani will become the next mayor of New York City.

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5 min read

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investment

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Published

June 27, 2025

05:52 PM

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CNBC

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businessmarketswealthutilitieshealthcaremarket cyclesseasonal analysispolicy

President Donald Trump called New York City Democratic mayoral candidate Zohran Mamdani "a communist

Mamadani, who is a democratic socialist, not a communist, scored a stunning victory over former New York Gov

Andrew Cuomo in the first round of the Democratic mayoral primary on Tuesday

Mamdani's victory which came in the face of Cuomo's endorsement by many minent Democrats

President Donald Trump speaks to the media, after the U

Supreme Court dealt a blow to the power of federal judges by restricting their ability to grant broad legal relief in cases as the justices acted in a legal fight over President Donald Trump's bid to limit birthright citizenship, in the Press Briefing Room at the White House in Washington D. , June 27, 2025

Ken Cedeno | ReutersPresident Donald Trump on Friday called New York City Democratic mayoral candidate Zohran Mamdani "a communist," and said the Big Apple will become "a communistic city" if he is elected mayor in November. "I can't believe that's happening," Trump told reporters at the White House. "That's a terrible thing for our country, by the way. " Trump's s came three days after Mamdani — who is a democratic socialist, not a communist — scored a stunning victory over former New York Gov

Andrew Cuomo in the first round of the city's Democratic mayoral primary

Cuomo conceded to Mamdani late Tuesday night, acknowledging the strong lihood that the next round of the primary's ranked-choice voting system would confirm Mamdani, a member of the Democratic Socialists of America, as the Democratic Party's nominee

Mamdani won the initial primary round despite the fact that many minent Democrats had endorsed Cuomo

His victory has sent some major investors, New York leaders and conservative news ators into a tizzy over the now-very-real possibility that Mamdani, a three-term state assemblyman, will be the mayor of America's largest city

Mamdani's campaign platform calls for an increase in the corporate tax rate, higher taxes on the wealthy, a rent freeze and free buses

Zohran Mamdani speaks during a watch party for his primary election, which includes his bid to become the Democratic candidate for New York City mayor in the upcoming November 2025 election, in New York City, U. , June 25, 2025

REUTERS/David 'Dee' DelgadoDavid Delgado | ReutersTrump acknowledged the alarm over Mandani among leaders, saying they are "worried that somebody this communist from New York someday gets elected. ""He's a communist

We're going to go to a communistic city," said the president. "That's so bad for New York. "CNBC has requested from Mamdani's campaign Trump's remarks

Phillip Laffront, founder of the Coatue Management hedge fund, told CNBC on Wednesday that if Mamdani wins the general election, some wealthy investors could decide to move away from the city. "Some people are going to, for sure, go," Laffont said on "Squawk Box. "Cuomo has not yet announced whether he plans to run for mayor this fall as an independent

New York City's current mayor, Eric Adams, is already seeking re-election as an independent candidate

Initially elected as a Democrat, Adams decided earlier this year to run for re-election as an independent, rather than ask fellow Democrats to nominate him on the party's ballot

Adams has become increasingly un in New York after he was indicted in September on federal corruption charges brought by the Department of Justice when Democratic former President Joe Biden was still in office

CNBC coverageEurope will buy more American weapons and pave way for trade deal, EU council chief saysTrump hosts 'One, Big, Beautiful' event to push GOP senators to pass tax billPolice detain six outside Palantir office at test over deportations, military workTrump trade deadlines in July 'not critical': White HouseTrump vows to make Spain pay after it refuses to meet NATO spending targetTrump downplays U

Intelligence report on Iran strikes at NATO presser'Time to get serious on defense': It's a moment of truth for NATO on spendingTrump to Congress: 'NO ONE GOES ON VACATION' until spending bill passesAfter Trump took office in January, the DOJ asked a judge to dismiss the case against Adams, arguing that secuting the mayor would interfere with his ability to govern the city and to cooperate with federal immigration enforcement, a priority for the new president

Seven federal secutors, including the acting Manhattan U

Attorney whose office was handling the case, resigned in test over the DOJ's effort to drop Adams' secution

In April, District Court Judge Dale Hole dismissed the case against Adams with prejudice, meaning that it cannot be resurrected by the DOJ when Adams leaves office

In his order, Ho blasted the Justice Department, which had initially wanted the case dismissed without prejudice, which would allow secutors to re-open the case at some point, potentially. "Everything here smacks of a bargain: dismissal of the indictment in exchange for immigration policy concessions" by Adams, Ho wrote

The judge said that dismissing the case without prejudice "would create the unavoidable perception that the Mayor's freedom depends on his ability to carry out the immigration enforcement priorities of the administration.