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President Donald Trump has defended his use of the term “shylock” at a rally this week, saying he was unaware it is considered antisemitic by some people.
Trump used the term in his speech in Iowa on Thursday, shortly after his signature One Big Beautiful Bill Act was passed by Congress earlier in the day.
Shylock is the name of the villainous Jewish moneylender in Shakespeare’s “The Merchant of Venice,” who demands a pound of flesh from a debtor.
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Over time, the name came to be used more broadly to refer to a loan shark or greedy moneylender. Today, it can be considered an antisemitic slur, particularly when used in reference to Jewish people.
“No death tax, no estate tax, no going to the banks and borrowing some from, in some cases, a fine banker and in some cases, shylocks and bad people,” Trump said, while referring to the bill’s elimination of estate taxes and borrowing burdens.
The term did not provoke any reaction from the crowd, but his remark quickly blew up online, and he later defended using it when a reporter said it is widely considered an antiemetic phrase.
“No I’ve never heard it that way,” Trump responded. “To me, a shylock is somebody that’s a moneylender at high rates. I’ve never heard it that way. You view it differently than me. I’ve never heard that.”
The Anti-Defamation League (ADL), which works to combat antisemitism, said the term evokes “a centuries-old antisemitic trope about Jews and greed that is extremely offensive and dangerous.”
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“President Trump’s use of the term is very troubling and irresponsible,” the ADL wrote in a statement Friday. “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.”
Rep. Jerry Nadler, D- N.Y., who is Jewish, agreed and ripped Trump for using the term.
“The term ‘Shylock’ is one of the most recognizable antisemitic slurs in the English language,” Nadler wrote on X. “It’s a centuries-old trope that has fueled discrimination, hatred and violence against Jews for generations. I condemn Donald Trump’s dangerous use of this blatantly antisemitic slur and his long history of trafficking in antisemitic tropes.”
Nadler went on to say that Trump has exploited the rise of antisemitism to suppress free speech and that he isn’t serious about tackling the problem.
Conservative political commentator John Podhoretz, who is also Jewish, shot back at Nadler.
“I condemn your endorsement of an anti-Semitic mayoral candidate which you did because you are a pusillanimous coward,” Podhoretz wrote, in reference to Nadler endorsing Zohran Mamdani for New York City mayor. “At best Trump said Shylock the same week he destroyed Iran’s nuclear program. What have you ever done for the Jews, Jerry?”
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Trump has made tackling antisemitism — particularly on college campuses and through immigration enforcement — a top priority in his campaign. He signed an executive order in January mandating that all federal agencies identify and apply tools to address antisemitic harassment and violence in higher education. His administration has also launched investigations into universities including Harvard, Columbia, and UC Berkeley over allegations of antisemitism and has threatened to pull federal funding if they fail to act.
His daughter Ivanka converted to Orthodox Judaism in 2009 and is married to Jared Kushner, who is also Jewish.
Democrat Joe Biden, while vice president, said in 2014 that he had made a “poor choice” of words a day after he used the term in remarks to a legal aid group.
The Associated Press contributed to this report.
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