JPMorgan announces $1.5 trillion plan to strengthen US supply chain

JPMorgan Chase bank headquarters in New York, USA. Photo: AFP/TTXVN

On October 13, JPMorgan Chase, the largest bank in the United States, announced the implementation of a $1.5 trillion plan to provide financial support and investment in industries considered key to US national security and economic autonomy, including defense, energy and high-tech manufacturing.

As part of the 10-year initiative, JPMorgan said it will hire more bankers and invest up to $10 billion in U.S. companies through direct equity and venture capital investments, focusing on fast-growing companies and strategic manufacturers.

The announcement comes as the Trump administration pushes to modernize infrastructure and reduce dependence on foreign supply chains, particularly in areas such as pharmaceuticals, semiconductors, clean energy and rare earth minerals.

“It is time to recognize that the United States is overly dependent on unreliable sources for critical materials, products, and manufacturing capabilities – all of which are essential to national security,” JPMorgan Chairman and CEO Jamie Dimon said.

Last weekend, Mr. Trump reignited trade tensions with China, ending a long-standing truce between the world’s two largest economies by announcing a sharp increase in tariffs in response to China’s restrictions on rare earth exports.

JPMorgan said the new initiative – dubbed “security and resilience” – will support finance and investment in four strategic areas: supply chains and manufacturing; defense and aerospace; energy autonomy; and frontier technologies such as artificial intelligence and quantum computing.

JPMorgan had planned to provide about $1 trillion in financing over the next decade to clients in these sectors, but now the bank will increase that by 50%, according to previously unpublished internal figures.

The US government is pursuing cooperation agreements in about 30 industries involving dozens of businesses classified as “sensitive” to national security or the economy.

Source: https://vtv.vn/jpmorgan-cong-bo-ke-hoach-1500-ty-usd-nham-cung-co-chuoi-cung-ung-cua-my-100251014070236364.htm