Watch live: Trump to unveil major investment in Baltimore submarine shipyard

President Trump will give remarks Tuesday afternoon in Baltimore to unveil a multibillion-dollar investment aimed at boosting U.S. submarine production.

Defense technology company Anduril Industries plans to invest $3.7 billion in a new shipyard at Tradepoint Atlantic in Sparrows Point, while the Navy could spend up to another $2.9 billion purchasing production from the facility.

The shipyard, dubbed Arsenal-2, will manufacture components and large-scale assemblies for the Pentagon’s Virginia-class attack submarines. The project is expected to create more than 3,000 permanent jobs.

Trump will be joined by Defense Secretary Pete Hegseth and Acting Navy Secretary Hung Cao, along with others. Maryland Gov. Wes Moore (D), who championed the project, was blocked from speaking at the announcement, a source familiar told The Hill.

The event is scheduled to begin at 4 p.m. EDT.