President Trump's missile defense project, called the "Golden Dome for America," aims to protect the U.S. from foreign threats. But it has a steep price and has been criticized by China as threatening to increase the risks of militarizing space and a global arms race.

“We will have the best system ever built,” the president declared.

The project will cost about $175 billion, Trump said, and will be led by Gen. Michael A. Guetlein, vice chief of space operations at the United States Space Force.