JPMorgan Chase will take stakes in companies of up to a total of $10bn to help fund growth in areas it deems critical to US security, the latest sign of Donald Trump’s “America First” policies being adopted by big business.
The investment plans are part of a broader 10-year initiative that JPMorgan announced on Monday through which it is aiming to facilitate and finance $1.5tn in so-called critical industries.
“It has become painfully clear that the US 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,” said JPMorgan chief executive Jamie Dimon.
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