NEW YORK, Jan 13 — New York City will sever contracts with the Trump Organization that net the company profits of US$17 million (RM69 million) annually, Mayor Bill de Blasio said today, accusing President Donald Trump of inciting the crowds that stormed the US Capitol last week.

"If a company and the leadership of that company is engaged in criminal activity, we have the right to sever the contract,” de Blasio said on MSNBC.

"Inciting an insurrection against the United States government clearly constitutes criminal activity,” de Blasio said. "So, the city of New York will no longer have anything to do with the Trump Organization.”

Trump addressed thousands of supporters on January 6, reiterating his unsupported claim that his re-election was stolen. He urged them to march to the Capitol where Congress was affirming Joe Biden’s election by the Electoral College.

The crowd quickly overwhelmed Capitol security, with many of them entering the building and forcing a halt to the proceedings as lawmakers took cover in a secure location. Five people died as a result of the incident. — Reuters