Stocks sold off across the board after the president announced that the United States would impose new tariffs of 100% on imports from China. As global trade tensions escalate, the theme of deglobalization has gained momentum. On Monday, JPMorgan announced plans to invest up to $10 billion in companies deemed critical to U.S. national security and interests.
“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,” stated JPMorgan CEO Jamie Dimon in a release. In light of this, Morgan Stanley’s trading desk compiled a list of “national security” stocks that could benefit from renewed investments aimed at securing vital businesses within the United States.
The stocks in this basket are roughly evenly distributed across sectors such as lithium, batteries, uranium/nuclear, rare earth mining, and energy storage. Some notable names from this list include:
**Tesla**: Selected for its exposure to manufacturing and batteries, Tesla’s shares have increased by more than 7% this year. Melius Research initiated coverage of the stock with a buy rating, calling it a “must own.” Analyst Rob Wertheimer noted, “The disruptive force of AI will wreck multi-trillion dollar industries, starting with auto.” He emphasized that keeping pace isn’t easy for most companies, but Tesla and the Musk ecosystem can adapt. With a target price of $520, the analyst suggests an upside of nearly 20% from current levels.
**MP Materials**: This rare-earth materials company has surged an astonishing 520% in 2025. Last Thursday, BMO Capital Markets reinstated its coverage at a market perform rating. Analyst Raj Ray set a price target of $76, which is over 20% below the current trading price. “Following a transformational partnership with the Department of Defense (DoD), we believe MP has emerged as the U.S.’ rare earth champion,” Ray stated. He added that this partnership paves a clear pathway to stable earnings, but the market is accurately valuing the shares, hence the Market Perform rating.
**Freeport-McMoRan**: This mining stock is up around 13% this year. Last Wednesday, Citi upgraded the stock to a buy rating. The bank noted, “FCX historically commanded a premium sector multiple due to some combination of size, liquidity, S&P 500 inclusion, and solid operating performance.” Citi’s price target of $48 corresponds to an upside of more than 11%.
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