Check out what’s being clicked on on FoxBusiness.com.
president Donald Trump The United States will host Finnish President Alexander Stubb at the White House on Thursday to sign a new agreement for icebreaker ships, under which the Scandinavian country will build four ships, with seven more to be built in Texas and Louisiana.
The Trump administration said the deal would strengthen US national security in the Arctic and counter the growing presence of China and Russia in the region.
Icebreakers are specialized ships designed to navigate through ice-covered waters, and the U.S. Coast Guard currently operates only two active security cutters in the Arctic.

U.S. Coast Guard Bristol Bay broke ice on the St. Clair River near Roberts Landing, Michigan, during a winter de-icing mission around 2015. (Jim West/UCG/Universal Images Group via Getty Images / Getty Images)
From admiration to Alaska: A timeline of high-stakes confrontations between Trump and Putin
Staub announced on Thursday that the two countries will sign a memorandum of understanding on icebreaker cooperation later in the day.
“I will sign a memorandum of understanding on icebreaker cooperation with President Trump,” Staub wrote in a post on X, adding that the agreement “will lay the foundation for trade agreements between the US Coast Guard and Finnish companies.”
“It is great that Finnish expertise is trusted. The cooperation benefits Finland and the United States. The agreement would not have been possible without President Trump.”
The cost of the 11 Arctic Security Pieces, the new medium icebreakers that will be used by the U.S. Coast Guard, is expected to be about $6.1 billion, a White House official said. Reuters.
The plan is expected to generate billions of dollars in new investment in shipbuilding and create thousands of skilled craft jobs for Americans.

Finnish President Alexander Stubb and President Donald Trump during Pope Francis’ funeral in Vatican City. The two leaders are scheduled to meet on Thursday at the White House to sign a new ice-breaking agreement between the United States and Finland. (Jakub Purzycki/Noor Photo via Getty Images/Getty Images)
Trump announces the imposition of 25% customs duties on medium and heavy trucks
The official said that three of the ships will be built by Davy Company in Galveston, Texas, and four of them will be built by Bollinger Shipbuilding Company in Houma, Louisiana.
The first ship is expected to be delivered by 2028, the official said.
Trump has consistently called for the United States to acquire as many as 40 new icebreakers to bolster the United States National security In the Arctic and confronting the growing influence of China and Russia.
The US President also identified Greenland as of vital strategic importance and explored purchasing Greenland from Denmark, which controls Greenland’s foreign affairs and defense. Denmark flatly rejected the idea.
The Helsinki government said last year that Finland is the world’s leading producer of icebreakers, with its companies designing about 80% of the current ships and about 60% of them built in its shipyards.

A Russian icebreaker makes its way through thick Arctic sea ice towards the North Pole. The United States and Finland are moving forward with an agreement to build 11 modern icebreakers for the US Coast Guard. (Getty/Getty Images)
Get FOX Business on the go by clicking here
Trump and Stapp, who have forged cordial relations since Trump took office in January, are also expected to discuss Russia’s invasion of the country. Ukraine.
The two met in March at the president’s Mar-a-Lago club in Florida and played a round of golf. They were also seen sitting side by side and speaking at Pope Francis’ funeral service at the Vatican in April.
Reuters contributed to this report.
https://a57.foxnews.com/static.foxbusiness.com/foxbusiness.com/content/uploads/2025/10/0/0/coast-guard-icebreaker.jpg?ve=1&tl=1
Source link