At an Iowa rally promoting the “One Big Beautiful Bill,” former President Trump used the term “Shylocks” to describe bankers—even after warnings about its antisemitic connotations—prompting swift condemnation from Jewish leaders and advocacy groups.
At a Glance
- Trump referred to bankers as “Shylocks and bad people” during a July 3 speech in Des Moines, according to ABC News.
- The Anti-Defamation League called the slur “extremely offensive and dangerous,” warning it normalizes antisemitic tropes, per Politico.
- Amy Spitalnick of the Jewish Council for Public Affairs said, “This is not an accident,” linking Trump’s remark to long-standing conspiracies, according to People magazine.
- Trump defended the term, saying he “never heard it that way,” suggesting he meant a high-rate lender, as reported by CNN via KSBW.
- Jewish organizations warn the incident follows a surge in antisemitic incidents and threatens civil norms.
Slur Unleashes Frenzied Outrage
During his speech, Trump said, “No death tax, no estate tax, no going to the banks… in some cases, Shylocks and bad people,” sparking immediate criticism over the antisemitic stereotype of Jewish moneylenders. The ADL called the remarks “irresponsible” and “troubling,” noting how mainstream figures can perpetuate dangerous tropes.
Jewish Council for Public Affairs CEO Amy Spitalnick emphasized that “Shylock is among the most quintessential antisemitic stereotypes. This is not an accident,” criticizing the rhetoric for embedding conspiracy themes into public discourse, as reported by People magazine.
Trump Pleads Ignorance, Faces New Blowback
On July 4, Trump defended himself, saying he “never heard it that way” and thought the word referred to a high-rate lender. Civil rights advocates argue this defense shows ignorance of antisemitic history, a point reinforced by reporting from CNN via KSBW and Reuters.
Widening US Antisemitism Debate
Jewish groups say antisemitic incidents have spiked in the U.S., fueled by extremist rhetoric tied to global tensions—much of it backed by hate speech from national figures. Critics argue such language deepens mistrust and encourages discriminatory behavior at a societal level.