JPMorgan unveils $1.5tr plan to boost investments in US industries

JPMorgan Chase launched a $1.5 trillion plan on Monday to facilitate, finance and invest in industries deemed critical to the US national security and economic resilience, including defense, energy and advanced manufacturing.

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As part of the 10-year initiative, the largest US lender also plans to hire more bankers and invest up to $10 billion into US companies through direct equity and venture capital investments, focusing on fast-growing businesses and key manufacturers.

The announcement comes as US President Donald Trump's administration looks to modernize infrastructure and reduce dependence on foreign supply chains, particularly in sectors like pharmaceuticals, semiconductors, clean energy and rare earths.

"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," JPMorgan Chairman and CEO Jamie Dimon said.

Trump revived the trade war against Beijing on Friday, ending an uneasy truce between the two largest economies with promises to sharply hike tariffs in a reprisal against China curbing its rare earths exports.

JPMorgan said its new “security and resiliency initiative” would facilitate financing and investment across four strategic sectors: supply chain and manufacturing; defense and aerospace; energy independence; and frontier technologies such as artificial intelligence and quantum computing.