Recent US-Iran talks center on implementing the June 2026 memorandum of understanding signed by President Trump, Vice President Vance, and Iranian officials including President Masoud Pezeshkian. This framework reopened the Strait of Hormuz, paused major hostilities, and launched a 60-day negotiation window on nuclear limits, sanctions relief, IAEA inspections, and maritime security. Technical discussions continued into July in Switzerland and Doha despite renewed shipping incidents that prompted US responses and questions about the truce's durability. Any final agreement would require Senate review under the Iran Nuclear Agreement Review Act and depend on progress before the extended August timeline. Trader consensus reflects uncertainty over which US and Iranian figures will ultimately endorse a comprehensive deal amid ongoing verification and enforcement challenges.