Has Trump backed down over Iran?

Newsnight – Season 47

President Trump calls off strikes on Iran and says the countries are in peace talks and 'could end up in a deal'. Iran says US talks are fake news. Tonight - did Trump back down? Is this the end of the war? Plus, with oil and gas prices falling, has a global economic meltdown been averted? We hear from former US national security adviser John Bolton, and from Republican Congressman Michael Baumgartner. With Katie Razzall.