Defending his decision to withdraw from the Intermediate-Range Nuclear Forces (INF) Treaty with Russian Federation, he said in the speech on Tuesday night, "Perhaps we can negotiate a different agreement, adding China and others, or perhaps we can't" - in which case, we will outspend and out-innovate all others by far.
Russian Federation vowed on Saturday to develop "new types of weapons" as it suspended a Cold War-era nuclear missile treaty with the U.S., which pulled back from the pact a day earlier, raising the spectre of a new arms race. The U.S. thinks that the 9M729 land-based cruise missile developed and deployed by Russian Federation violates the accord.
"For too long", Trump said in a written statement issued by the White House, Russia has violated the treaty "with impunity, covertly developing and fielding a prohibited missile system that poses a direct threat to our allies and troops overseas".
"Mr Shoigu said the US was already violating the accord: "[The US] are actively working on creating ground-based missiles with the range capability of over 500km, which is outside the treaty-stipulated limitations.
Donald Trump, the U.S. president, has accused Moscow of violating the treaty with "impunity", a reference to years of complaints that it was secretly developing a prohibited missile.
The INF was signed in 1987, during the Cold War, to ease a crisis in which U.S. and Soviet missiles were placed within range of European capitals.
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Just last week, the United States pulled out of the landmark 1987 Intermediate-Range Nuclear Forces Treaty, citing years of Russian violations.
Technically, a U.S. withdrawal would take effect six months after this week's notification, leaving a small window for saving the treaty. The US responded by saying it would withdraw and design its own treaty-busting missiles. For months, the USA has stated that, if Russian Federation failed to end an ongoing pattern of INF violations dating back five years, Washington would suspend its adherence to the 32-year treaty.
On Tuesday, Robert Wood, the USA disarmament envoy, told a United Nations -sponsored Conference on Disarmament in Switzerland that Washington would reconsider its withdrawal from the INF Treaty if Russian Federation returned "to full and verifiable compliance", the South China Morning Post reported.
The INF agreement forbids ground-launched, short- and intermediate-range missiles, but not those launched from the air or sea.
The US in December gave Moscow a 60-day deadline to dismantle missiles it said breached the agreement. With the US maintaining the military upper hand, China places importance on a variety of cruise and ballistic missiles capable of hitting American aircraft carriers or military bases in Guam in the western Pacific and Japan.
It comes amid spiralling tensions between Russian Federation and the US. "Over the same period we will also have to create a land-based missile system with a long-range hypersonic missile".
Putin emphasised that such new weapons won't be deployed unless the U.S. does so first.