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Iran had earlier said there were no plans for a direct meeting with a US delegation led by Steve Witkoff and Jared Kushner.
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The last-minute scuttling of the trip is the latest sign of how far apart the two sides are on reaching a deal to end the Iran war.
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The president's announcement came after Iranian officials left Pakistan on Saturday after downplaying the prospect of direct talks with U.S. officials on a deal.
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