President Donald Trump has said he was unaware that the term “shylock,” which he used during a recent speech in Iowa, is considered antisemitic.

Speaking to reporters early Friday after returning from the Iowa event, Trump said, “I’ve never heard it that way” and “never heard that” the term is seen as an offensive stereotype about Jews.

The word “shylock” originates from the character of a Jewish moneylender in Shakespeare’s play The Merchant of Venice, who is depicted as a villain demanding a pound of flesh from a debtor.

The Anti-Defamation League (ADL), an organization working to combat antisemitism, condemned the use of the term. In a statement, the ADL said the word “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.”

Trump is not the first political figure to face criticism over the use of the word. In 2014, Democrat Joe Biden, then serving as vice president, acknowledged making a “poor choice” of words after he used the term while speaking to a legal aid group.

Although Trump’s administration has claimed that cracking down on antisemitism is a priority — including screening for antisemitic activity in immigration processes and criticizing Harvard University for allegedly tolerating antisemitism — Trump has previously faced accusations of promoting stereotypes about Jewish people.

In 2015, while speaking to the Republican Jewish Coalition, Trump told the audience, “you want to control your politicians,” and suggested they use money to exert influence.

Trump also drew widespread criticism before launching his 2024 presidential campaign for hosting a Holocaust-denying white nationalist at his Florida club.

Last year, he faced backlash for repeatedly suggesting that Jewish Americans who vote for Democrats are disloyal, citing Democratic leaders' criticism of Israeli Prime Minister Benjamin Netanyahu. Critics argued that Trump’s remarks reinforced antisemitic tropes about Jews having divided loyalties.

During his Thursday night speech in Iowa, Trump used the controversial term while discussing the passage of his signature legislation.

“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.

When asked by a reporter about the antisemitic association of the term and his intention, Trump responded, “No, I’ve never heard it that way. To me, a 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.”

The Anti-Defamation League, in its statement, added, “Trump’s use of the word 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.”