Trump discloses US taxpayer stake in $6.6B submarine deal

President Trump announced that the U.S. government will take a 40% equity stake in a new shipyard in Baltimore to boost Virginia-class submarine production, part of a $6.6 billion effort to address delays and expand naval capacity. The project involves a $3.7 billion investment from defense contractor Anduril, which will finance the facility, while the Navy could spend up to $2.9 billion on submarine procurement. The new Arsenal-2 facility is expected to create over 3,100 jobs and increase submarine manufacturing capacity by approximately 15%, aiming to accelerate production to meet national security goals amidst China's expanding naval industry.

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