President Trump says he was unaware that calling bankers “shylocks” is considered antisemitic, reigniting debate over harmful rhetoric from national leaders.
At a Glance
- In a July 3 Iowa rally, Trump referred to high-interest lenders as “shylocks” without apparent awareness of its antisemitic origins.
- The term harkens back to Shakespeare’s The Merchant of Venice, where Shylock is depicted as a greedy Jewish moneylender.
- The Anti-Defamation League condemned the usage as “extremely offensive and dangerous,” emphasizing its dangerous historical connotations.
- Trump responded that he understood “shylock” only as a descriptor for predatory lenders, not as a slur.
- Critics note a pattern of Trump invoking antisemitic stereotypes, despite past efforts to combat campus antisemitism.
Context and Consequences
At a campaign rally in Iowa on July 3, President Trump remarked, “no death tax … no borrowing from … shylocks and bad people,” while promoting his recent tax-and-spending bill. In follow-up interviews, Trump claimed ignorance of the term’s antisemitic history, stating, “To me, a shylock is somebody that’s a money lender at high rates. I’ve never heard it that way,” as reported by AP News.
The Anti-Defamation League quickly denounced the remark as “an invocation of a centuries-old antisemitic trope,” citing long-standing associations between Jewish identity and exploitative financial practices. The term’s origin in The Merchant of Venice—where the Jewish character Shylock demands a pound of flesh as repayment—has long been considered emblematic of antisemitic caricature.
Watch a report: Trump calls bankers “shylocks” during Iowa rally.
Broader Anti-Jewish Narrative
This is not the first time Trump has drawn scrutiny for invoking Jewish stereotypes. Critics point to past statements questioning the loyalty of Jewish Democrats and remarks about Israeli influence on Congress. According to The Daily Beast, the Iowa remarks may reinforce dangerous narratives, regardless of intent.
The Washington Post highlighted that Jewish advocacy groups have expressed concern that casual use of such language by national leaders normalizes coded hate speech. Despite past administration efforts to address antisemitism on campuses, the optics of using a slur so loaded with antisemitic history have intensified scrutiny.
Ignorance or Responsibility?
Trump’s campaign insisted he was unaware of the slur’s cultural weight. However, critics note that then-Vice President Biden used the same term in 2014 and promptly apologized—suggesting that public figures should know better. Reuters reported that the fallout could impact Jewish voter sentiment as the election cycle intensifies.
Amy Spitalnick, CEO of the Jewish Council for Public Affairs, told reporters the incident was “disqualifying and dangerous,” urging Americans to demand higher standards from political leaders. The Guardian documented reactions in real-time as Jewish groups across the country issued joint statements condemning the remark.
Language matters at the highest levels. The “shylock” controversy underscores ongoing concern that stereotypes—intentional or not—erode trust and fuel societal divides.
