Lift Truck operators, like all powered mobile equipment must yield to pedestrians. So.....the simple answer is, Pedestrians Have The Right-Of-Way.
Operators must have care & control of their vehicles at all times and exercise "due diligence".
Now, Implementation & understanding is another matter. Pedestrians should be told to yield to lift trucks and watch out for their own safety. A pedestrian could be right, but they could be dead right.
The burden is on the operator to prove that they were taking all the precautions.