On January 27, 2025, President Trump signed an executive order (EO) entitled “The Iron Dome for America.” Citing the potentially “catastrophic threat” from across the missile spectrum, its stated purpose is to “provide for the common defense of [American] citizens and the Nation.” In an evolving and diverse threat environment, this order calls for a modernized missile defense infrastructure tailored to present-day and near-future challenges. Achieving the policy goals outlined in the EO will require significant innovation and investment, and issues of feasibility, cost, and implications for strategic stability will again be debated.