JPMorgan Chase unveils a $1.5 trillion plan to support U.S. national security and economic resilience, focusing on industries like defense, energy, and advanced manufacturing. The initiative includes hiring more bankers and investing up to $10 billion in U.S. companies through equity and venture capital. Trump’s administration aims to reduce reliance on foreign supply chains.

The plan aims to address U.S. dependence on unreliable sources for critical minerals and products. Trump’s revival of the trade war with Beijing includes tariffs on rare earths exports. JPMorgan’s “security and resiliency initiative” will focus on supply chain, defense, energy independence, and frontier technologies like artificial intelligence and quantum computing.

JPMorgan plans to facilitate and finance $1 trillion over the next decade in key industries, increasing the size by 50%. The U.S. government is pursuing deals in up to 30 critical industries. The bank assisted in the deal with U.S. rare earths mining company MP Materials and is exploring more opportunities with the Trump administration.

CEO Jamie Dimon stresses the need for policy reform to accelerate progress, citing regulatory delays and workforce challenges. The firm identifies four key investment areas with 27 sub-sectors, including shipbuilding, nuclear energy, nanomaterials, and secure communications. An external advisory council and thematic research will support the initiative.

Read more at Yahoo Finance: JPMorgan unveils $1.5 trillion plan to boost investments in US strategic industries