This is the right spirit.
But we should ask for the return of US arms donations to Ukraine and serious pressure on Russia.
The idea being that we play hardball for common security goals - freedom of navigation/resisting aggression - not our own economic interests.
If the US is asking European and Asian allies to send their navies to the Strait of Hormuz, they should consider demanding an immediate cessation of all US tariffs on them in return. I don't think Trump would hesitate to make that demand, if the situations were reversed.