Trump was asked Friday about his use of the term “Shylock” during his campaign rally in Iowa, when the president said about his domestic policy bill, “Think of that: no death tax, no estate tax, no going to the banks and borrowings from in some cases a fine banker. And in some cases, Shylocks and bad people.”

Trump described some bankers as "Shylocks" at the event in Iowa. He said afterwards he did not realise it was considered offensive. Shylock is a ruthless Jewish money lender in Shakespeare's play The Merchant of Venice.