Panasonic subsidiary Activelink is developing the "Dual Arm Amplification Robot" -- an exoskeleton that allows the user to lift heavy weights. It hopes to have to have a working model by 2015, which can then be used for disaster relief or industrial assembly. It is equipped with direct force feedback, which allows the user to feel the impact of its movements, and thus better control the machine.
Link via Popular Science
I think that "president" was Kevin Kline in the movie Dave. He was visiting a factory in Japan and made that joke. Thanks for the reminder though, that was a very funny scene.
... but mainly for fighting alien "Get away from her, you b**ch" queens.