Naval treaties set ceilings, while legislatures still decided how many ships would actually be funded. During the interwar period, the Royal Navy remained larger than the US Navy even though the treaty system placed them at nominal equality. The explanation given here is that Congress did not fund the US fleet up to the permitted strength. The example separates legal tonnage ratios from the forces available for operations.
Notable Point · 1:20:08-1:21:06
Treaty limits and actual fleet strength diverged
Congressional funding decisions left the US Navy below its treaty allowance, allowing the Royal Navy to remain the world's largest despite nominal parity.