President Donald Trump's repeated suggestions to rebrand the Strait of Hormuz as the "Strait of Trump" during the ongoing U.S.-Iran conflict have not translated into formal action, with the president later describing the idea as casually floated rather than pursued. Traders assign a 95.5% probability against an official rename by year-end because international geographic names for shared waterways require broad multilateral consensus under frameworks like the UN Convention on the Law of the Sea, not unilateral executive orders effective only for U.S. agencies. Precedent shows domestic renamings such as the Gulf of America succeeded internally, yet no comparable mechanism exists for this strategic chokepoint contested by multiple nations. Late developments could still shift odds if the administration advances a formal proposal through U.S. naming bodies or secures unexpected diplomatic buy-in before December 31.