President Trump Wants $686 Billion for the Military. Here’s How He Plans to Spend It

President Donald Trump's $686 billion defense request for the coming fiscal year would propel the Navy toward a new goal of 355 ships, restore major funding for a Boeing Co. fighter jet favored by the president and boost missile defense spending to counter threats from North Korea and Iran.

On its voyage to a 355-ship Navy, the budget plan envisions building the fleet to 299 vessels by the end of fiscal 2019, which begins Oct. 1, and 326 by 2023. The Navy has 280 ships today, but some are...

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