Higher treaty limits would not resolve the naval balance problem

Would looser Washington Treaty limits and more tonnage for Japan have reduced 1930s tensions?

Probably not. Higher limits would expand every major navy and preserve the underlying political and parity disputes rather than remove them.

More allowance for one signatory means more construction for the others, especially Britain and the United States. The result would not settle Japanese grievances, and Germany would later confront larger fleets from a much lower starting point. France could not receive a larger allocation without Italy demanding parity, while Britain needed Italy inside the agreement because of the Mediterranean balance. Raising every ceiling would therefore recreate the same political dispute at a more expensive level and restart the arms race the treaty sought to contain.