Who in Iran can negotiate with the US?

Is Donald Trump backing down from a potential strike on Iran - or is this a strategic pivot? In this episode of the Fourcast, we unpack the latest twists in US-Iran tensions as Trump insists talks are “good and productive,” despite Tehran claiming a firm warning forced a retreat. With the Strait of Hormuz at the centre of the crisis and global markets reacting fast, the stakes couldn’t be higher.