Iran Latest: Trump Backtracks & Extends Tehran Truce, Talks in Limbo | The Opening Trade 4/22/2026

US President Donald Trump indefinitely extended a ceasefire with Iran as peace talks remain on hold, walking back threats to resume fighting even as the Strait of Hormuz remains all but shut. Trump said Pakistan, the main mediator between the warring sides, asked the US to hold off on fresh strikes, something Tehran denied was the case. Washington is extending the truce — which began just over two weeks ago — until Iran submits a new proposal “and discussions are concluded, one way...