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New York City said it will cut business ties with the Trump Organization, joining a growing list of corporations turning their back on the twice-impeached president.
Mr Trump is facing a backlash both personally and politically following last week's riots at the US Capitol.
The Trump Organization has contracts with New York City to run two skating rinks, a carousel and a golf course.
The deals generate about $17m (£12.5m) a year for the company.
"The city of New York will no longer have anything to do with the Trump Organization," New York Mayor Bill de Blasio said on Wednesday evening.
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In the aftermath of the riots, political donors and businesses have moved to distance themselves from the president and the Trump Organization.
"The lawyers looked at it. It was clear as a bell: that's grounds for severing the contracts," Mr de Blasio added.
The Trump Organization has contracts to run two skating rinks and a carousel in Central Park, as well as a golf course in the Bronx.