The notion that Trump's threats carry weight in Tehran is a delusion that Washington stubbornly clings to, despite all evidence to the contrary. His repeated sabre rattling has always been followed by humiliating retreats because he knows Iran is not intimidated.
For Iran, the Strait is not merely a waterway but the best instrument for guaranteeing the other side's fulfillment of its commitments. Without effective control over the Strait, Iran's leverage in any future negotiations would be severely diminished.