BusinessPostCorner.com
No Result
View All Result
Friday, July 18, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Donald Trump says $175bn ‘Golden Dome’ will be completed during his term

May 20, 2025
in Finance
Reading Time: 3 mins read
A A
0
Donald Trump says 5bn ‘Golden Dome’ will be completed during his term
ShareShareShareShareShare

Unlock the White House Watch newsletter for free

Your guide to what Trump’s second term means for Washington, business and the world

Donald Trump has put a $175bn price tag on the development of a “Golden Dome” missile defence shield, promising the project would be “operational” by the end of his term.

The so-called Golden Dome — whose name is a nod to the renowned “Iron Dome” shielding Israel — will be completed in two-and-a-half to three years, the US president said in an announcement from the Oval Office. The tax and budget bill before Congress includes $25bn to “help construction get under way”, he added.

Trump also said that Canada “has called us, and they want to be a part of it” and “have protection” as well. “We’ll work with them on pricing.”

The president set the Golden Dome project in motion in the first week of his second term with an executive order demanding the most ambitious, cutting-edge missile shield in US history: one that can destroy hypersonic missiles and prevent nuclear annihilation.

Flanked by defence secretary Pete Hegseth, several US senators and US Space Force General Michael Guetlein, who will lead the project, Trump said on Tuesday that the Golden Dome would “deploy next-generation technologies across the land, sea and space, including space-based sensors and interceptors”.

But those interceptors — a web of satellites, some equipped with lasers — to detect, intercept and destroy ballistic nuclear missiles, require technology that does not yet exist. Given the unproven technology, there are huge hurdles for Golden Dome, which is akin to Ronald Reagan’s so-called Star Wars programme from the 1980s.

“Ronald Reagan wanted it many years ago, but they didn’t have the technology,” Trump said. “Once fully constructed, the Golden Dome will be capable of intercepting missiles even if they are launched from other sides of the world, and even if they are launched from space.”

He talked up the importance of Silicon Valley to realise his vision. “We have things that nobody else can have” in terms of technological development, Trump said. “A very big adversary told me ‘the most brilliant people in the world are Silicon Valley’.”

Newer tech players such as Elon Musk’s SpaceX and start-ups Anduril and Palantir are expected to be involved in the Golden Dome alongside legacy defence contractors such as Lockheed Martin and RTX.

Aerospace and defence companies are already preparing to fight for fresh contract dollars. Lockheed set up a webpage declaring its readiness for this “Manhattan Project-scale mission”, referring to the second world war-era programme to develop the atomic bomb. So far there are no agreements with specific companies.

Trump was confident that Congress would continue to fund the Golden Dome as it develops: “It’s amazing how easy this one is to fund,” he said against the backdrop of a larger battle over his sweeping tax bill.

The project, however, could easily surpass its $175bn price tag. The non-partisan Congressional Budget Office estimated that developing and launching the space-based interceptors could cost up to $542bn over 20 years.

Recommended

Last week the Defense Intelligence Agency released a threat assessment illustrating the types of attacks China, Russia, Iran and North Korea could launch with sophisticated missiles that Golden Dome is meant to shield against.

Meanwhile, Democrats including senator Elizabeth Warren have raised conflict of interest concerns over SpaceX’s potential involvement in the project given Musk’s role in the Trump administration.

A group of 42 Democratic lawmakers, led by Warren, asked the top defence department watchdog earlier this month to “conduct a review of the Pentagon’s process to award the ‘Golden Dome’ missile defence shield contract, including any involvement by Elon Musk in that process” since it is possible his company is a “top contender for the Golden Dome contract because of Mr Musk’s position in the government”.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Pets and PJs aren’t why people want to work from home. The real perk is privacy for deep focus.

Next Post

Did Trump really strike Gulf deals worth $2tn?

Next Post
Did Trump really strike Gulf deals worth tn?

Did Trump really strike Gulf deals worth $2tn?

Next Trump budget bill begins taking shape in House

Next Trump budget bill begins taking shape in House

July 14, 2025
Redemptions and reality: Life insurance proceeds and valuation after Connelly

Redemptions and reality: Life insurance proceeds and valuation after Connelly

July 15, 2025
Crypto Week Could Unlock “Trillions” as U.S. Bills Seek to Clarify Digital Assets

Crypto Week Could Unlock “Trillions” as U.S. Bills Seek to Clarify Digital Assets

July 17, 2025
Rilla founder offers employees ,500 rent stipend to live closer to the office

Rilla founder offers employees $1,500 rent stipend to live closer to the office

July 11, 2025
Jaguar Land Rover to cut up to 500 management jobs

Jaguar Land Rover to cut up to 500 management jobs

July 17, 2025
The fight to revive Europe’s shrinking rural areas

The fight to revive Europe’s shrinking rural areas

July 17, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Crypto Market Cap Nears  Trillion as Bitcoin and Altcoins Surge Following Key US Legislation

Crypto Market Cap Nears $4 Trillion as Bitcoin and Altcoins Surge Following Key US Legislation

July 18, 2025
Defence firms ‘confident’ hundreds more jobs will come

Defence firms ‘confident’ hundreds more jobs will come

July 18, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!