If anyone is unleashing an arms race it's not us. We will never spend resources on an arms race that we can't afford.
Well, it seems Putin isn't taking Trump at face value. Reagan unleashed William Casey at all of the USSR's foreign moneymaking operations, and significantly accelerated their economic collapse. Putin will remain acutely aware of this fact. The Federation of American Scientists says Russia has more operational nukes than we do .... however ... the consensus is that ours are higher-tech, simply 'better'. The danger is that Russia has thousands of currently nonoperational warheads awaiting dismantlement. If they could be made operational, Russia could double their numbers relatively overnight.
What is not comforting - reading between the lines (dangerous with a translation) - is that Putin clearly thinks he's got the upper hand. Not just in power and will, but morally/ethically.