A bit more informative is the actual fact sheet put out by the white house [1]. What they are really aiming for is exascale computing, which they define as being capable of applying exaFlops to exabytes. From my limited knowledge, the latter will actually be the bigger deal. As pointed out elsewhere, an exaflop supercomputer will probably come around beforehand.
[1] https://www.whitehouse.gov/sites/default/files/microsites/os...