JPMorgan is investing up to $10 billion in companies that are “essential” to the United States

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JPMorgan Chase will take stakes in companies worth a total of $10 billion to help finance growth in areas it considers critical to US security, the latest sign of Donald Trump’s “America First” policies being embraced by big business.

The investment plans are part of a broader 10-year initiative announced by JPMorgan on Monday through which it aims to facilitate and finance $1.5 trillion in so-called critical industries.

It has become painfully clear that the United States has allowed itself to rely excessively on unreliable sources Critical minerals“Products and manufacturing — all of which are essential to our national security,” said Jamie Dimon, CEO of JPMorgan.

“This new initiative includes efforts such as ensuring reliable access to life-saving medicines and critical minerals, defending our nation, and building energy systems to meet demand driven by artificial intelligence and advanced technologies like semiconductors and data centers,” Dimon added.

JPMorgan said it will focus on four important national security and infrastructure themes – supply chains and advanced manufacturing, defense and space, energy independence and resilience, and frontier and strategic technologies.

The $10 billion investment will be from the bank’s own money and will mainly go towards companies in the United States.

Regarding the broader target of $1.5 trillion, the bank said it already planned to facilitate and finance about $1 trillion over the next decade to support clients in these important industries, and was aiming to increase this by 50 percent.

Although not mentioned by Trump, the goal set by JPMorgan would likely appeal to the White House’s policy agenda to ensure existing and emerging critical infrastructure and technology exist in the United States.

Rare earth minerals are one example of an industry that has achieved success Beijing’s influence on the United States In trade talks due to China’s dominance of the industry.

Dimon is one of the most influential voices on Wall Street and regularly declares his patriotism in his public statements.

Banks have in the past attached massive financing targets sympathetic to public policy, including JPMorgan’s announcement in 2021 that it was targeting more than $2.5 trillion over 10 years to advance solutions that address climate change.