New York City Democratic mayoral primary debate: six key takeaways
In the first debate of the New York City Democratic mayoral primary, nine candidates took the stage and fielded questions on housing, affordability, crime, policing, public safety, political regrets and how each candidate would handle the Trump administration if elected.
The candidates included former New York governor Andrew Cuomo; democratic socialist Zohran Mamdani; the New York City council speaker, Adrienne Adams; the current New York City comptroller, Brad Lander; former comptroller Scott Stringer; former Bronx assemblyman Michael Blake; state senators Zellnor Myrie and Jessica Ramos; and former hedge fund manager Whitney Tilson.
The current mayor, Eric Adams, was not present on Wednesday as he is running for re-election as an independent candidate, although he ran as a Democrat in 2021.
A few takeaways from the debate:
Throughout the debate, former New York governor Andrew Cuomo, the current frontrunner in the race, was grilled on his record by his Democratic rivals.
Related: Democratic candidates for New York mayor spar over housing, Covid and Trump
Cuomo spent much of the night sparring with progressive state assemblyman Zohran Mamdani, who is polling second. Mamdani accused Cuomo of being beholden to wealthy donors and corporate interests, saying Cuomo prioritized the '1%, the billionaires and the profitable corporations', over 'working-class New Yorkers'.
Cuomo dismissed the 33-year-old as inexperienced, calling Mamdani 'very good on Twitter and with videos' but saying he was someone who 'produces nothing'.
'He's been in government 27 minutes, he passed three bills, that's all he's done,' Cuomo said. 'He has no experience with Washington, no experience with New York City.'
Trump came up several times, as the candidates agreed the next mayor must be ready to stand up to his administration if elected mayor, though they differed on who was best equipped to do so.
'I know how to deal with Donald Trump because I've dealt with him before,' Cuomo said, citing his experience as New York governor.
Mamdani warned that 'President Trump will target whomever is the next mayor of this city' and said that is 'important that we have a mayor who will fight back and that is what I will do'.
'I am Donald Trump's worst nightmare as a progressive Muslim immigrant who actually fights for the things that I believe in,' Mamdani added. 'And the difference between myself and Andrew Cuomo is that my campaign is not funded by the very billionaires who put Donald Trump in DC.'
Cuomo fired back, saying that 'Donald Trump would go through Mr Mamdani like a hot knife through butter'.
'He would be Trump's delight,' Cuomo added.
Mamdani countered: 'It's true that I don't have experience with corrupt Trump billionaires that are funding my campaign. I don't have experience with party politics and insider consultants. I do have experience, however, with winning $450m in debt relief for thousands of working-class taxi drivers and actually delivering for working-class people.'
Adrienne Adams, the speaker of the New York city council, said she would take legal action against Trump when necessary.
Asked how they would respond if the Trump administration ordered city-run hospitals to stop providing care to undocumented patients or risk losing millions in federal funding, all candidates voiced strong opposition to Trump's recent crackdown on immigration in general.
'You cannot give in to Mr Trump and his demands,' Cuomo said. 'If you give in to him, he is a bully, I know him well, if you give in to him today, you will be giving him your lunch money for the rest of your life.'
'You have to fight him and the way you fight him is not by suing him,' the former governor said. 'We need a national coalition, which we can put together of like-minded states and cities that will oppose these actions and then we're going to have to eventually beat him politically in Congress.'
Whitney Tilson said that if Trump were to act 'illegally to try and blackmail us, you have to sue to restore that funding', adding that he was 'appalled by what Trump is doing to terrorize immigrant communities' and would 'fight him tooth and nail'.
Mamdani said that New York City was 'under attack by an authoritarian Trump administration'.
'The way that we fight back is ensure that our local institutions continue to provide the services to each and every New Yorker,' he said. 'We will tell those institutions that we will provide that funding and we will get that funding by taxing the 1% and the wealthiest corporations.'
Pressed about his administration's handling of nursing home deaths during the Covid-19 pandemic – a 2021 report by the New York attorney general found that his office undercounted thousands of deaths of state nursing home residents – Cuomo defended his record, claiming the numbers were not, in fact, undercounted.
He also denied the sexual harassment allegations against him that led to his resignation. 'I said at the time that if I offended anyone it was unintentional but I apologize and I say that today,' he said.
City council speaker Adrienne Adams took a swipe at the current mayor. 'My biggest regret is believing that Eric Adams would be a good mayor for all New Yorkers,' she said.
The city's comptroller, Brad Lander, said that he regretted not pushing 'for more housing in his Brooklyn district when he was a city council member'.
Mandani used the moment to target Cuomo once more, saying that 'as a Democrat, one of my regrets is having trusted the leaders within our own party, leaders like Andrew Cuomo'.
Cuomo, on the other hand, said his biggest regret was 'the state of the Democratic party', which prompted backlash from other candidates on stage. 'No personal regrets?' asked Adrienne Adams. 'No regrets when it comes to cutting Medicaid or healthcare? No regrets when it comes to slow-walking PPE and vaccinations in the season of Covid to Black and brown communities? Really, no regrets?'
Cuomo said her claims were 'not accurate', adding: 'Medicaid went up under me. I pushed President Trump to give us everything he had, leading the way during Covid.'
The moderators asked the candidates how much they pay in rent or mortgage in New York City. Adams said she owned her home and that it was paid off; Mamdani said he pays $2,300 a month in rent for a rent-stabilized apartment in Astoria.
Blake said he spends about $1,800 for a home that he owns, while Myrie said his rent-stabilized apartment was $1,300 a month and Ramos said her rent was $2,500 a month. Lander said his mortgage was $3,300 a month.
Cuomo said that he pays $7,800 a month, while Tilson said that he owned his home and paid about $5,000 per month in maintenance fees and taxes. Stringer said he pays $6,400.
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Josef Gregory Mahoney, a professor at East China Normal University, said trust, not money, has been the biggest casualty of the trade war. 'We've heard a lot about frameworks,' he said. 'But the fundamental issue remains: Chips versus rare earths. Everything else is a peacock dance.' Bloomberg reports: Read more here. Treasury Secretary Scott Bessent told House lawmakers on Wednesday that the Trump administration may extend the 90-day tariff pause on some countries in order to continue trade negotiations. When asked if Americans should prepare for another "Liberation Day" on July 9, when the tariff pause ends for most countries, Bessent said that the administration may choose to move the deadline on 18 of the most important trading partners, so long as they make an effort to come to the negotiating table. 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The move could add more uncertainty for American manufacturers, particularly the auto industry, which has been pushing for easier access. The Journal notes that the move gives China leverage down the line if tensions ratchet back up. From the report: In celebrating the agreement early Wednesday, President Trump noted "any necessary rare earths will be supplied, up front, by China." He did not mention any time limit on loosening those restrictions. Treasury Secretary Scott Bessent, in testimony before Congress on Wednesday, painted Wednesday's agreement as an incremental step on the longer road to a more comprehensive trade deal. "A trade deal today or last night was for a specific goal, and it will be a much longer process," he told a House committee. When asked if current US tariff levels on Chinese imports would not change again, Commerce Secretary Howard Lutnick told CNBC, "You can definitely say that." "We're in a great place with China," Lutnick said Wednesday. While the US-China truce framework is awaiting final word from US President Trump and Chinese President Xi Jinping, Lutnick added, "Both sides are really positive." The agreement is largely viewed as reestablishing the "handshake" that US and Chinese officials reached in Geneva last month, as details on a larger trade pact remain scant. Trump posted on social media this morning that the US has imposed 55% tariffs on China, a number that does not include any new tariffs but instead comprises some preexisting tariffs, Trump's fentanyl tariffs, and 10% "Liberation Day" tariffs. Lutnick touted that, as a result of the two-day talks, the US will gain access to rare earths and magnets, while the Chinese delegation sought to remove the US's export controls. He added that the trade deficit remains an ongoing issue, stating, "We're going to examine how China can do more business with us." May's Consumer Price Index (CPI) report showed inflation pressures eased on a monthly basis despite investor concerns that President Trump's tariffs would accelerate the pace of price increases. The Consumer Price Index (CPI) increased 0.1% on a monthly basis in May and 2.4% on an annual basis, a slight uptick from April's 2.3% gain. Yahoo Finance's Allie Canal reports: Read more here. I would keep an eye on consumer names off the news of a trade deal with China floated by President Trump this morning (see our prior post below). Seeing upticks premarket in heavily China-exposed retailers such as Nike (NKE), Walmart (WMT), Target (TGT), and Abercrombie & Fitch (ANF). The premarket gains here aren't mind-blowing in part because tariffs appear to still be in place. Trump posted on Truth Social: OUR DEAL WITH CHINA IS DONE, SUBJECT TO FINAL APPROVAL WITH PRESIDENT XI AND ME. FULL MAGNETS, AND ANY NECESSARY RARE EARTHS, WILL BE SUPPLIED, UP FRONT, BY CHINA. LIKEWISE, WE WILL PROVIDE TO CHINA WHAT WAS AGREED TO, INCLUDING CHINESE STUDENTS USING OUR COLLEGES AND UNIVERSITIES (WHICH HAS ALWAYS BEEN GOOD WITH ME!). WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT! THANK YOU FOR YOUR ATTENTION TO THIS MATTER!" A variety of market observers quickly weighed in hours after Tuesday evening's unveiling to suggest that the deal may not have a lot of meat on the bones — but at least relations are no longer moving in the wrong direction. The talks perhaps underscored how unlikely a comprehensive trade deal is anytime soon, noted AGF Investments Greg Valliere, "but at least relations may not worsen as talks continue throughout the summer." Both sides promised additional talks in the weeks or months ahead, but none have yet been scheduled. Veronique de Rugy, a professor at the Mercatus Center at George Mason University, suggested the talks continued to show China's leverage. "China is hurting, yes—but they still hold the upper hand on critical resources, and they know how to use them." Any lessening of tensions — and freer flow — of these mineral resources in China would be a significant boost to the global economy with China holding outsized leverage in both the reserves and processing capacity of these key building blocks for everything from computers to electric vehicle batteries to medical devices. Likewise, the US offering concessions on export controls would be a significant move after years where successive US administrations have wielded these controls — especially around the design and manufacture of semiconductors — by saying they need to be tight on China for national security reasons. Read more here. May's Consumer Price Index (CPI) report will be released on Wednesday and its expected to show that prices rose a bit faster than in April. Yahoo Finance's Allie Canal breaks down what to look out for and how President Trump's tariffs are impacting what consumers are now paying for goods and services. Read more here. Now that the US-China trade truce is back on track, both sides are keen to ensure it stays that way. China's Vice Premier He Lifeng said both sides need to now 'show the spirit of good faith in abiding by their commitments and jointly safeguard the hard-won results of the dialogue.' Bloomberg News reports: Read more here. Reuters reports: Read more here. Despite the US-China trade truce resuming the pain from President Trump's tariffs remains in China, especially among small exporters. Reuters reports: Read more here. Japan warned Wednesday that tariffs threaten its economic growth, the government said in a monthly report. Reuters reports: Read more here. Reuters reports: Read more here. Reuters reports: Read more here. A federal appeals could said on Tuesday that President Trump's sweeping tariffs can continue for now. This is a significant win for Trump, who introduced tariffs back in March and declared "Liberation Day," as he saw them as a way to free the US from what he called unfair trade practices. Bloomberg News reports: Read more here. Early summer sales for Inditex, the owner of fashion retailer Zara, came in weaker, as the company missed expectations for first quarter sales on Wednesday. President Trump's tariffs have impacted consumer demand in the US and other major markets. Reuters reports: Read more here. After weeks of back and forth, the US and China have agreed on a framework to implement the Geneva consensus that helped ease tariffs. The breakthrough came after two days of talks in London, including a marathon session on Tuesday. US Commerce Secretary Howard Lutnick said both sides had to "get the negativity out" before making progress. 'Now we can go forward to try to do positive trade, growing trade,' he said. As part of the deal, Beijing has promised to speed up shipments of rare earth metals, a crucial component for global auto and defense industries. Washington will ease export controls. This marks the first sign of movement on key issues. The proposal will now be presented to President Trump and China's Xi. Still, the discussions also did little to resolve a long-standing issue: China's trade surplus with the US. 'Markets will likely welcome the shift from confrontation to coordination,' said Charu Chanana, chief investment strategist at Saxo Markets. 'We're not out of the woods yet — it's up to Trump and Xi to approve and enforce the deal.' The meeting was set up after a phone call between the two leaders, following weeks of each side accusing the other of breaking the Geneva commitments. Both countries had used chips, rare earths, student visas and ethane as bargaining tools. Josef Gregory Mahoney, a professor at East China Normal University, said trust, not money, has been the biggest casualty of the trade war. 'We've heard a lot about frameworks,' he said. 'But the fundamental issue remains: Chips versus rare earths. Everything else is a peacock dance.' Bloomberg reports: Read more here. Sign in to access your portfolio
