US President Donald Trump’s long-standing obsession with sea power was underscored by his pledge to rebuild the US Navy into what he called a “Golden Fleet” as he returned to the White House. His financial year 2027 budget released on April 3 puts a price tag on the ambition: US$65.8 billion for 34 warships, including initial funding for a next-generation battleship he wants to name after himself, part of the largest US$1.5 trillion defence-spending request in history. But analysts say the...