President Trump on Friday denied knowing that the word “Shylock” is seen as an antisemitic slur after using it at a rally in Iowa while extolling the tax perks of his One Big Beautiful Bill Act.
“I’ve never heard it that way. To me, Shylock is somebody that’s a money lender at high rates,” Trump told reporters after returning to the White House from Thursday’s rally. “I’ve never heard it that way, you view it differently than me. I’ve never heard that.”
The word derives from Shakespeare’s “The Merchant of Venice” and describes a selfish, greedy and vindictive moneylender who ultimately converts from Judaism to Christianity.
In the play, Shylock infamously calls for a “pound of flesh” from the merchant Antonio if he neglects to repay his loan.
Trump referenced “Shylock” when speaking at the rally about his megabill, saying, “No death tax. No estate tax. No going to the banks and borrowing from, in some cases, a fine banker — and in some cases, Shylocks and bad people.
“They destroyed a lot of families,” he said.
More than 10 years ago, then-Vice President Joe Biden was forced to apologize for using the term while railing against financiers who were taking advantage of American troops returning home from overseas.
Trump has courted close ties with the Jewish state of Israel throughout his time in the White House, aiding in its attack against Iran’s nuclear program last month and recognizing Jerusalem as its capital, among many other moves.
But critics quickly pounced on his use of “Shylock.”
“This is antisemitic. Plain and simple. Trump is just spewing hate,” wrote Senate Minority Leader Chuck Schumer (D-NY), the top elected Jewish official in the US, on X.
The Anti-Defamation League also condemned Trump in a statement.
“The term ‘Shylock’ evokes a centuries-old antisemitic trope about Jews and greed that is extremely offensive and dangerous,” the ADL said on X. “President Trump’s use of the term is very troubling and irresponsible.
“It underscores how lies and conspiracies about Jews remain deeply entrenched in our country. Words from our leaders matter and we expect more from the President of the United States.”
Trump’s rally at the Iowa State Fairgrounds in Des Moines kicked off his “Salute to America Celebration” and began yearlong festivities for America’s forthcoming 250th anniversary in 2026.
His return to the critical primary state came on the heels of the House passing his One Big Beautiful Bill Act, which is intended to be the signature legislation of his second term.
The president dedicated much of his speech to taking a victory lap over that feat.
