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JPMorgan Chase & Co. has announced a sweeping new initiative to channel $1.5 trillion into industries that bolster US economic security and resiliency over the next decade, according to a report by Bloomberg.
The plan will funnel billions into strategic sectors such as rare earth minerals, pharmaceuticals, robotics, defense, aerospace, and energy technologies, including drones, battery storage, and grid infrastructure.
The bank estimated that the effort will add up to $500 billion more than it would have provided under its regular financing operations. As part of the initiative, JPMorgan also plans to hire additional bankers and professionals to manage the expanded focus.
“It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing — all of which are essential for our national security,” CEO Jamie Dimon said in a statement. “We need to act now.”
Dimon’s comments come amid renewed trade tensions between Washington and Beijing, after President Donald Trump recently vowed to impose a 100% tariff on Chinese goods following Beijing’s tighter export controls on rare earth materials and processing equipment.
Dimon, 69, has become increasingly vocal about reducing US dependence on geopolitical rivals for essential materials. In his 2023 letter to shareholders, he wrote that American supply chains for critical products “must be domestic or only open to completely friendly allies or partners.”
Beyond direct loans and investments, JPMorgan said the $1.5 trillion target includes financing the firm facilitates through stock and bond sales, third-party funding, and client investments managed by its asset and wealth management arm. The initiative also includes up to $10 billion in equity and venture capital investments to help strategic companies expand and innovate.
Last year, JPMorgan extended credit and raised a total of $2.8 trillion companywide. The new campaign underscores the bank’s growing role in advancing economic resilience and national security, while signaling Wall Street’s increasing alignment with US industrial policy priorities.
(With inputs from Bloomberg)
The plan will funnel billions into strategic sectors such as rare earth minerals, pharmaceuticals, robotics, defense, aerospace, and energy technologies, including drones, battery storage, and grid infrastructure.
The bank estimated that the effort will add up to $500 billion more than it would have provided under its regular financing operations. As part of the initiative, JPMorgan also plans to hire additional bankers and professionals to manage the expanded focus.
“It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing — all of which are essential for our national security,” CEO Jamie Dimon said in a statement. “We need to act now.”
Dimon’s comments come amid renewed trade tensions between Washington and Beijing, after President Donald Trump recently vowed to impose a 100% tariff on Chinese goods following Beijing’s tighter export controls on rare earth materials and processing equipment.
Dimon, 69, has become increasingly vocal about reducing US dependence on geopolitical rivals for essential materials. In his 2023 letter to shareholders, he wrote that American supply chains for critical products “must be domestic or only open to completely friendly allies or partners.”
Beyond direct loans and investments, JPMorgan said the $1.5 trillion target includes financing the firm facilitates through stock and bond sales, third-party funding, and client investments managed by its asset and wealth management arm. The initiative also includes up to $10 billion in equity and venture capital investments to help strategic companies expand and innovate.
Last year, JPMorgan extended credit and raised a total of $2.8 trillion companywide. The new campaign underscores the bank’s growing role in advancing economic resilience and national security, while signaling Wall Street’s increasing alignment with US industrial policy priorities.
(With inputs from Bloomberg)
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