President Trump has just laid out a visionary plan for achieving peace between Israel and the Palestinians. Rather than trying to reconcile the fundamentally conflicting priorities of the two sides, he came up with a practical solution that reflects realities on the ground in the fairest way possible. Every American president since Lyndon Johnson has tried — and failed — to resolve the conflict, usually by sitting down with Israeli and Palestinian leaders to negotiate toothless agreements that have done nothing to ease tensions or prevent bloodshed. These well-intentioned efforts all made the same fatal mistake: they treated the Israeli...