Peace Talks

Oracle Text

This turn and next turn, creatures can't attack, and players and permanents can't be the targets of spells or activated abilities.

Card Rulings

10/4/2004 Can be cast after your attack.
10/4/2004 It affects the current turn and the next turn. This could affect the same player twice if they have two turns in a row, or it could affect different players. In a multiplayer game it affects exactly two turns, not a full round of turns.
2/1/2006 Doesn’t skip the Combat Phase, just renders creatures unable to attack.
6/8/2016 Activated abilities contain a colon. They’re generally written “[Cost]: [Effect].” Some keywords are activated abilities and will have colons in their reminder text.