President Trump nominated acting Navy Secretary Hung Cao in early September 2026 to the permanent role, following his Senate confirmation as under secretary in October 2025 by a 52-45 vote. The nomination requires Senate Armed Services Committee hearings and a floor vote needing a simple majority, plus House and Senate approval of a statutory waiver because Cao retired from the Navy as a captain in 2021, short of the seven-year requirement for service secretary eligibility. Recent carrier deployments and readiness strains tied to operations against Iran may draw scrutiny during confirmation. With the nomination transmitted to the Senate in mid-September and limited legislative days before the November midterms, traders assess the timeline for completing both the waiver and confirmation processes.