In Islamabad, U.S. and Iranian negotiators have failed to reach even the outline of a peace deal. What now? President Trump has announced a naval blockade of the Strait of Hormuz for ships using Iranian ports and could launch a new wave of strikes on Iran. How will Tehran respond? By going up the escalator ladder, is there now a real danger of an all-out regional war and global recession?

At the same time, widening differences between Israel and Washington may force Benjamin Netanyahu to scale back his ambitions -- whether to crush Hezbollah in Lebanon or to bring down Iran’s battered clerical regime -- in order to preserve relations with the White House. Guests are John Mearsheimer from the University of Chicago and Joshua Landis from the University of Oklahoma.

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Tom Switzer is a journalist and broadcaster who has been a prolific commentator on politics and international affairs. His writing and commentary have appeared in outlets including The Wall Street Journal, The New York Times (international), The Australian, and across ABC and Sky News, where he has been a regular presenter and panellist. For 30 years, since 1995, he has worked at the Washington-based American Enterprise Institute, the Australian Financial Review, The Australian, the London-based Spectator magazine, and the Sydney-based Centre for Independent Studies, which he headed from 2017 to 2025. He is the host of Switzerland, a long-form interview series exploring global politics, modern history, and the ideas shaping the world.