White House Press Secretary Caroline Leavitt announced the name at a press briefing on Wednesday.

According to her, the arch's construction is timed to coincide with the 250th anniversary of the US Declaration of Independence, which will be celebrated on July 4. The official name of the project is the "Arch of Triumph of the United States."

According to RBC, the structure will be approximately 76 meters (250 feet) tall—a figure symbolically referencing the 250th anniversary of American independence. A Statue of Liberty is planned to be installed at the top of the arch. The structure will surpass the famous Arc de Triomphe in Paris, which stands at 50 meters, and is reported to be the largest such structure in the world, surpassing the Monument to the Revolution in Mexico City and the Arc de Triomphe in Pyongyang.

The project first became known in October, when AFP journalists spotted a model of the building on Trump's desk in the Oval Office. The first full images of the monument were unveiled publicly last Friday.