U.S. President Donald Trump has unveiled plans and initial funding for a new missile defense system, dubbed the “Golden Dome,” drawing sharp criticism from China over concerns it could destabilize global security.

Speaking at the White House on Tuesday, Trump announced that $25 billion has been earmarked for the development of the shield, which he said could eventually cost around $175 billion and become operational within three years.

“In the campaign, I promised the American people I would build a cutting-edge missile defense shield,” Trump stated.

“Today I am pleased to announce we have officially selected architecture for this state-of-the-art system.”

The initiative will be spearheaded by U.S. Space Force General Michael Guetlein, with Trump adding that Canada has expressed interest in joining the project as “they want to have protection also.”

In a swift response on Wednesday, Beijing condemned the “Golden Dome” initiative, branding it a threat to international stability and accusing the U.S. of escalating a global arms race.

-AFP