Copyright Newsweek

President Donald Trump on Wednesday walked back previous and repeated threats of funding cuts to New York City over Tuesday's election of democratic socialist Zohran Mamdani as mayor. Speaking in Miami at a forum of business leaders and global athletes to tout his economic achievements, Trump said about Mamdani, "We'll help him. We want New York to be successful. We'll help him. A little bit, maybe." Trump has previously threatened to not only defund the city — but also to arrest and deport Mamdani — if he won. Trump has repeatedly called Mamdani a "communist," which he also repeated on Wednesday. This is a breaking news story. Updates to follow.