They are still people even if they don't follow the Cristian religion. This is what he is basically saying. Jews are still people. If you do something to a Jew, the same thing will happen to you. There is no reason to discriminate and not like them because the only difference is the religion.
People have the right to follow the religion they like.
When Shakespeare lived, the Jews where being expulsed from England. This is why some people say Shakespeare was an anti-Semitist. The Merchant of Venice is a play classified by some as racist. Even thought Shylock is referred to as the Jew all through the play except in two occasions, this does not mean it's discriminating. Rather, it shows us the way Shylock would be referred as in that time.