As most of you will know, George Bush is keen to implement the NMD system, citing the ABM treaty as an anachronism, which the US cannot realistically be expected to count on, in the face of changing strategies in geopolitics.
In Bush's mind, the ABM is simply not suited to protecting the US from foreign aggression in this day and age.
Some Russian officials claim the US risks kick-starting another arms race, and that it has not fully studied the consequences of it's plans, as regards NMD.
Europe, as usual, is divided. Unsurprisingly, the French don't like it, but the British do.
The rest are probably rolling their eyes!!
Here is an extract from the BBC:
Russia has warned that US President George W Bush's commitment to scrapping a landmark arms control treaty and creating a US anti-missile defence shield could lead to escalating global tensions.
Mr Bush on Tuesday described the 1972 Anti-Ballistic Missile (ABM) treaty, which limits missile defence systems, as a thing of the past.
But while Moscow reacted positively to proposed cuts in the US nuclear arsenal, Russian officials warned of a new arms race if Mr Bush carries out his intention to abandon the ABM treaty.
Mr Bush said the treaty with Russia was now a barrier to American and global security.
In a speech strong on rhetoric but thin on detail, Mr Bush outlined his vision of a missile defence programme to counter the threat from rogue states equipped with weapons of mass destruction.
"We must move beyond the constraints of the 30-year-old ABM treaty," the president said.
"This treaty does not recognise the present or point us to the future. It enshrines the past."
He also tried to reassure international critics by announcing a high-level delegation to consult with allies in Europe and Asia.
He had already outlined his plans to the leaders of Britain, Canada, France and Germany and on Tuesday he called the Russian president, Vladimir Putin, to reassure him ahead of the speech.
But Moscow remains apprehensive. Russian military and diplomatic sources - quoted by Russia's Interfax news agency - re-iterated Russian warnings of the dangers of scrapping the ABM treaty.
"Many in Washington understand that the destruction of ABM and deploying an anti-missile shield could undermine the system of strategic stability which exists in the world today and lead to a new arms race," the sources said.
National Missile Defence: What it is:
-A fixed, land-based, non-nuclear missile defence system including a space-based detection system
-Upgraded early warning radar
Able to destroy ballistic missiles
-No defence against sustained missile attack
-Expected to include space and sea-based defence
Nato Secretary-General George Robertson welcomed Mr Bush's commitment to consult closely with allies on the anti-missile defence scheme.
"The president is right to focus on these new challenges, and I welcome his commitment to close consultation with the allies," he said in a statement.
'Invitation to proliferation'
China stressed in a report by its official Xinhua news agency that Beijing was "hostile" to a missile defence plan.
Even among US allies, many object to the system
It quoted analysts as saying such a system "will not only spark a new arms race... but will also threaten world peace and security in the 21st century".
BBC defence correspondent Jonathan Marcus says China may modernise its own nuclear arsenal if it goes ahead.
Several Western countries also fear a missile defence system could disrupt the arms status quo between the US and Russia.
French President Jacques Chirac has called it an "invitation to proliferation".
UN Secretary-General Kofi Annan said he hoped the ABM treaty would not be scrapped.
"In promoting respect for the rule of law in international affairs, there is a need to consolidate and build upon existing disarmament and non-proliferation agreements," he said.
'Son of Star Wars'
Britain, which along with Denmark will be a base for some of the early warning systems, welcomed the plan.
The US Defense Department venue for Mr Bush's speech was the same as that used by former President Bill Clinton eight months ago to announce that he did not think technology was sufficiently advanced to commit to missile defence.
But the so-called "Son of Star Wars" programme was a key Bush campaign pledge.
We may have areas of difference with Russia, but we must not be strategic adversaries
George W Bush
Giving no details of the number of missiles or the programme's budget, Mr Bush challenged critics who say the anti-missile programme is costly and unproven by acknowledging that the technology is far from perfect.
"We know that some approaches will not work, but we will be able to build on our successes," he told an audience at the Pentagon's National Defense University.
This has been a "FYI" post.