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- Jamie Dimon says the US is “too reliant on unreliable sources” for vital minerals and tech.
- JPMorgan launched a $1.5 trillion plan to boost key industries from AI to energy resilience.
- Dimon warned America must “act now” to rebuild economic and national security strength.
Jamie Dimon said the US has become too dependent on foreign suppliers for the materials and technologies that underpin its economy and national security.
“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,” the JPMorgan Chase CEO said Monday.
Dimon’s warning came as the bank unveiled a decadelong, $1.5 trillion Security and Resiliency Initiative aimed at strengthening industries crucial to US competitiveness — from critical minerals and advanced manufacturing to energy, defense, and frontier technologies like AI and quantum computing.
The initiative will include up to $10 billion in direct investments to accelerate domestic production and innovation, alongside financing across supply chains and defense infrastructure.
JPMorgan also plans to hire more bankers and create an external advisory council of public and private-sector leaders to guide its efforts.
Dimon said the US needs to “act now” to restore industrial strength, urging policymakers to cut red tape, modernize education, and back investment in strategic sectors.
“America needs more speed and investment,” he said. “Our security is predicated on the strength and resiliency of America’s economy.”
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