IAW the 'Laws of the Land' (US Constitution), he can only do what the Legislative body allows - the House of Representatives in the case of the military and the Senate in the case of any treaty agreements - and, based on what occurred during the various SALT/CFE/WHNS negotiations and the situation since, I do not see them or Russia following along with much more of anything when it comes to US-RUS missile defense issues.
Personally, based upon my experiences at the AmEmbassy with such realpolitik talking among US-USSR-EU diplomatic negotiators, I think the POTUS' statement is more along the lines of an open-ended stall of we're wasting our time and, realisitcally, should wait to continue any such talks until after the upcoming elections because we're not interested in changing anything and in helping y'all appear to still be a peer on today's world stage. FWIW - we used to refer to the various on-going treaty talks as "Happy to Glad" wordsmith sessions.
I'll reserve my worries for a time when I think there's actually something to worry about.
And so it goes...
Richard 
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“Sometimes the Bible in the hand of one man is worse than a whisky bottle in the hand of (another)… There are just some kind of men who – who’re so busy worrying about the next world they’ve never learned to live in this one, and you can look down the street and see the results.” - To Kill A Mockingbird (Atticus Finch)
“Almost any sect, cult, or religion will legislate its creed into law if it acquires the political power to do so.” - Robert Heinlein
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