JP Morgan Chase CEO: Biden’s push for electric vehicles will benefit China | wayne dupree

Jamie Dimon, CEO of JPMorgan Chase Bank and one of the most influential business executives in the United States, has expressed reservations about the Biden administration’s willingness to buy electric vehicles, saying it constitutes a threat to national security.

It’s possible that “China…and its economic might to dominate batteries, rare earths, semiconductors, or electric vehicles,” as Dimon put it in the company’s 2022 annual report released Monday, could threaten national security by disrupting access to these products. and minerals. We must not allow another country to take control of these strategic assets.

While the US government and citizens see the urgent need to reduce reliance on China for electric vehicle batteries and semiconductors, they also recognize that the United States is still far from achieving this. objective.

In a recent House appearance, Interior Secretary Deb Haaland raised such concerns.

Republican Rep. Guy Reschenthaler asked her if she agreed that “electric vehicles and renewables are expanding our dependence on China, right?” and she said, “Sure, fine.”

On Tuesday, the government appeared to take the next step in its ongoing campaign to end fossil fuel production in the United States. The White House has announced plans to offer bonuses and tax breaks to coal communities in exchange for developing green energy projects at active and defunct coal mine sites.

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