JPMorgan Chase, one of America’s largest banks, just launched a $1.5 trillion plan to help the United States depend less on China. Their CEO, Jamie Dimon, says we’ve become too reliant on countries that don’t share our values. He’s right to be concerned. For too long, America has allowed its supply chains, energy systems, and defense industries to become tied to foreign powers—especially China. That’s a national security risk we can’t afford.
Dimon’s plan, called the Security and Resiliency Initiative, will focus on four main areas: supply chains and manufacturing, defense and aerospace, energy independence, and advanced technologies. These are the core parts of a strong and secure country. Without them, we’re vulnerable.
This isn’t just about economics. It’s about whether the United States can protect itself and remain free. Right now, China controls about 60% of the world’s rare earth minerals and does up to 90% of the refining needed to turn them into usable materials. These minerals are inside almost everything we use—from smartphones and electric vehicles to fighter jets and medical devices.
In short, if China decides to cut us off, we’re in trouble.
This is why JPMorgan’s move matters. Private companies are stepping up where the government, under past leadership, failed. While this initiative is not part of a public-private partnership, it fits well with President Trump’s broader strategy to bring key industries back home and end our dependence on hostile nations.
During his first term, President Trump supported domestic mining and took steps to secure critical minerals. His administration invested in American mining companies like MP Materials and Lithium Americas, recognizing that without control over these resources, we can’t build the tools needed for modern life or national defense.
In contrast, the Biden administration put environmental politics ahead of national security. In 2024, Joe Biden blocked a mining road in Alaska that would have opened access to large deposits of copper, silver, and cobalt—materials essential to America’s energy and defense systems. He also placed 28 million acres of Alaska off-limits to mining and drilling.
President Trump reversed that decision last year. He made it clear that America needs these resources to stay independent and strong. His move re-opened access to vital minerals needed for batteries, electronics, and military gear.
The facts speak for themselves. China isn’t slowing down. In 2023, their metals and mining sector grew by 131%. In just the first half of 2025, they’ve already broken investment records. Beijing is locking down global supply chains while America debates whether or not to dig in its own backyard.
That’s a problem. We are in a race—a race for control over the building blocks of modern life. If we lose that race, we lose our edge. We lose our independence. And we risk becoming dependent on a country that sees us not as a friend, but as a rival.
Jamie Dimon is sounding the alarm, and he’s not alone. Even the Pentagon has announced plans to stockpile up to $1 billion worth of critical minerals. That’s not a coincidence. It’s a clear sign that our military understands what’s at stake.
For years, some politicians said drilling and mining were bad for the environment. But they ignored the real price of relying on foreign powers. Now, with China rising and conflicts growing around the world, we’re seeing the cost of those choices.
America needs to get serious about rebuilding its industrial base. That means more mining, more refining, more factories, and more high-tech development right here at home. It also means standing up to the political forces that would rather shut down American energy and industry than admit that we need them.
The good news is, with leadership from the private sector and support from the Trump administration, we have a chance to turn things around. But we have to move fast. As Dimon warned, “Our adversaries and potential adversaries aren’t waiting—we no longer have the luxury of time.” He’s right. The time to act is now.