Trump has repeatedly floated the idea of renaming the Strait of Hormuz the "Trump Strait" through Truth Social posts and rally remarks in September and October 2026, often tying it to U.S. naval actions amid tensions with Iran. However, the waterway lies in international waters bordered by Iran and Oman, placing it outside the scope of U.S. executive orders that successfully updated domestic names such as the Gulf of Mexico and Lake Ontario. Traders assign a 94.3% probability to "No" by December 31 because any formal U.S. adoption would affect only federal references, with no mechanism for binding international recognition or maps. Recent comments have been described by the president himself as rhetorical or non-serious in some instances, and no legislative, diplomatic, or administrative steps toward implementation have advanced.