00:00Right. Well, neither side has come to the table. And in fact, President Trump has unilaterally extended the ceasefire. So
00:07does that mean he is the one who blinked first?
00:11Well, I think what we're seeing is a change in policy from the Trump administration to use economic tools, the
00:19combination of an increase in sanctions designations with the military blockade to kind of take a step back from active
00:28military strikes inside of Iran, but nonetheless keep the pressure on.
00:34I'm not sure that that that symbols blinking so much as a change in tactic at this point to see
00:41if the economic piece works to the Trump administration's advantage.
00:46I think the challenge here is that the Iranian government is not coming to the table and making concessions.
00:52And it's hard to imagine that it will agree to capitulate under these circumstances.
00:57So the economic the economic picture globally is going to continue to worsen and that's going to put pressure on
01:03the Trump administration.
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