JPMorgan’s Dimon: US Must Act To Fix Supply Chains
Jamie Dimon, Chief Executive of JPMorgan Chase, has warned that the United States is “too reliant on unreliable sources” for vital materials, manufacturing and products critical to national security. In remarks first reported by Business Insider, he announced a new ten-year plan worth US $1.5 trillion, called the Security and Resiliency Initiative, aimed at rebuilding America’s industrial base and reducing dependence on foreign supply chains.
A Call For Urgency
Dimon stressed that the country needs speed, investment and the removal of regulatory hurdles to strengthen its economy and key industries. “If America isn’t very strong, there’s no global security,” he said, highlighting the risks posed by over-dependence on imports in sectors like semiconductors and energy.
JPMorgan’s Commitment
As part of the initiative, JPMorgan will commit an initial US $10 billion of its own capital. The plan focuses on four priority areas: supply chains & advanced manufacturing, defence & aerospace, energy independence & resilience, and frontier & strategic technologies.
Strategic Importance
The announcement underscores the growing role of private-sector companies in shaping America’s industrial strategy. Dimon’s comments, as noted by Business Insider, reflect concerns that without decisive action, the U.S. risks economic vulnerability and weakened national security in the face of global competition.
