Washington DC - Senate Minority Leader Chuck Schumer has expressed willingness to work with Donald Trump on his vow to rename the Gulf of Mexico if the incoming president agrees to work with Democrats on lowering costs for Americans.

During a Senate floor speech on Wednesday, Schumer described Trump's announcement that he plans to rename the ocean basin to "The Gulf of America" as another of his "strange and rather random ideas" which he shares on a "regular basis."

Schumer went on to float a compromise to make the bizarre idea come to fruition.

"Well, let me say this: I'd agree to working with Donald Trump on renaming the Gulf of Mexico only if he first agrees to work with us on an actual plan on lowering costs for America," Schumer said. "That's what the American people want us to focus on first, not on renaming bodies of water."

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Schumer argued that Trump was "in over his head" with the plan and accused him of trying to "distract America with crazy ideas."

"Renaming the Gulf of Mexico may be a zany new idea, but it isn't going to help people save money at the grocery store," he continued. "It's not going to make trips to the pharmacy more affordable. It's not going to help anyone find a good-paying job."

"If Donald Trump wants to rename an ocean to sound more patriotic, I'd say we'll help him on one condition and only on one condition: Let's come up with a real plan first, not a concept of a plan, to lower prices for Americans," Schumer said.

Schumer's comments come as Trump has been feuding with Mexico, vowing to enact mass deportations of undocumented immigrants and to impose tariffs on the country.

Trump has also expressed growing imperialist ambitions. In recent weeks, he has faced criticism for proposed plans to take over Greenland from Denmark and threats to take back the Panama Canal.

During the same press conference he introduced his idea to rename the Gulf of Mexico, Trump also refused to rule out the possibility of using military force to carry out his plans.

On Wednesday, Mexican President Claudia Sheinbaum jokingly suggested the US should change its name to Mexican America.