JPMorgan Chase plans to hire bankers and invest up to $10 billion in critical U.S. companies over 10 years. The initiative aims to boost national security and economic resilience in sectors like defense, energy, and manufacturing. The move comes as Trump revives a trade war with China and aims to modernize infrastructure.

The bank’s “security and resiliency initiative” will focus on supply chain, defense, energy independence, and frontier technologies like artificial intelligence and quantum computing. JPMorgan will facilitate and finance about $1 trillion for clients in these industries, with plans to increase the size by 50%. The U.S. government is also pursuing deals across up to 30 industries involving critical companies.

JPMorgan is working with the Trump administration to explore more opportunities after assisting with a deal involving U.S. rare earths mining company MP Materials. The firm identified four key investment areas divided into 27 sub-sectors, including shipbuilding, nuclear energy, and secure communications. An external advisory council will be established, and the bank will hire more professionals to focus on supply chain vulnerabilities and emerging technologies.

Read more at Yahoo Finance: JPMorgan to invest up to $10 billion in US national security as part of $1.5 trillion pledge