G3 construction beginning in 1921 could put all four ships into service by 1924-25, with the N3 battleships following close behind. American designers might revise the Lexingtons after studying German battlecruisers, while France and Italy have less incentive to seek an early treaty because captured ships satisfy their numerical needs. Once hulls are complete or far advanced, cancellation becomes harder to justify politically and industrially. The ships built before negotiations would define the standards that any later agreement had to recognize.
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G3s, N3s, and Lexingtons before a delayed treaty
Treaty talks delayed until 1925 allow the major 1920s capital-ship programs to advance beyond the point where cancellation is politically or industrially easy.