this is going to become a worldwide economic disaster:
iran learnt it can 1. bully nearby gulf-nations 2. block hormuz
without much retaliation, and US can't do much due to internal politics (well a lot of people don't like Trump...)
so what cards do each nations have left?
can US "talk" with / use threats against iran and "make it a good guy"?
just talking threats can't force current regime to 'become good' -- bombing's not scary anymore
even economic gifts won't work: economically, iran is not vietnam: it has huge oil reserves, and it can hold hormuz hostage -- so time and effort can't make current regime 'a friend of US'
so... diplomatic chance is LONG GONE...
even if biden or obama becomes the president, they can't solve this: the 'benefit of doubt' is gone
so... unfortunately... the only card left for US and its allies... is ground troops... or some alternative to hormuz...