US President Donald Trump used the word "Shylock" - a term originating in Shakespeare's play but widely regarded as an antisemitic slur - to describe unscrupulous bankers during an Independence Day rally in Iowa.
After facing backlash from prominent Jewish figures, including Senate Majority Leader Chuck Schumer and the Anti-Defamation League, Trump responded, "To me, Shylock is somebody that's a money lender at high rates. I've never heard it that way, you view it differently than me. I've never heard that."
Trump describes certain bankers as "shylocks" pic.twitter.com/0mAiKwnZE9
— Aaron Rupar (@atrupar) July 4, 2025
The term "Shylock," taken from The Merchant of Venice, has for centuries been used as a harmful stereotype of Jews as greedy moneylenders. Trump insisted he meant no offense, saying he was unaware of the term's connotation.
The incident occurred amid celebrations marking the 250th anniversary of US independence, and as Trump pushes forward his flagship legislative initiative for his second term. Despite the uproar, Trump, who often highlights his ties with Israel, stood firm that no harm was intended.
