Trump Faces Backlash for Using Antisemitic Term in Tax Speech

U.S. President Donald Trump sparked outrage after referring to some bankers as "Shylocks" during a speech celebrating the passage of his landmark tax-cut and spending bill. Speaking in Iowa, Trump stated, “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.”

The term "Shylock," derived from Shakespeare’s The Merchant of Venice, is widely regarded as antisemitic. It characterizes a Jewish moneylender known for greed and cruelty, and has historically been used as a slur against Jewish people.

The Anti-Defamation League (ADL) swiftly condemned the remark, stating, “The term 'Shylock' evokes a centuries-old antisemitic trope about Jews and greed that is extremely offensive and dangerous. President Trump’s use of the term is very troubling and irresponsible.”

Representative Dan Goldman, a Jewish Democrat from New York, also criticized the comment. “This is blatant and vile antisemitism, and Trump knows exactly what he’s doing,” he said.

Upon his return to Washington, Trump told reporters aboard Air Force One that he was unaware of the term's offensive implications. “No, I’ve never heard it that way. To be Shylock is somebody that, say, a money lender at high rates,” he said. “You view it differently than me.”

The controversy comes as Trump seeks to rally support for his economic agenda ahead of the 2026 elections. Critics say the president’s language risks inflaming divisions, while his supporters argue he was referring to predatory lending practices without intending religious offense.

The incident adds to a long list of remarks that have drawn accusations of bigotry, as Trump continues to dominate headlines with his polarizing rhetoric.