Israel has endorsed Trump's map which gives the entire Jordan River valley to Israel - presumably to not have any landmass connecting Jordan and Palestine.
Why is this so important for Israel? For feeling safer?
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The idea of Israel controlling the Jordan River valley as part of a long term peace agreement goes back to 1967, just about after the six days war. It was central part of the Allon Plan that was presented to the Israeli government only weeks after the war ended. The goal of the plan was to accommodate for Israeli security by keeping the Judea and Samaria mountains top under Israeli control, while giving away as much of the remaining occupied land back to the Palestinians to allow for self rule.
At that time, the area of the west bank of the Jordan River was sparsely populated. The 1967 Eshkol-led government accepted the plan and it formed the settling strategy in the following decade (until Likud rose to power). Following the plan, the government approved Israeli settlement in the area and indeed the first Israeli settlements in the west bank were founded on that land. Accordingly, the population in these settlements differs from later Likud-era settlements. The population of the Jordan River valley settlements is mostly secular and center-left wing oriented. To this day, the area is mostly populated by Israeli settlements.
The security considerations that led to the design of the plan were accepted by following governments with little questioning. The same considerations guided the Israeli delegation during Oslo peace talks. Today, more than half a century after its devise, the design of the plan is regard as an axiom by Israeli military leadership.
Following the Israeli withdrawal from Gaza in 2005, Hamas gained power there. Hamas and other militant groups received shipments of foreign rockets and other weapons, largely from Iran. Such rockets were frequently fired into Israel over the ensuing years.
Israel is eager not to repeat this experience with respect to the West Bank. If a similar arsenal of rockets was smuggled to the West Bank, it could be used to disrupt Tel Aviv and Ben Gurion Airport, which are the lifeblood of the Israeli economy.
Israel fears that by ceding the Jordan Valley, it would open a weapons smuggling route from the East Bank to the West Bank, creating a similar but quite possibly worse security threat to the ongoing one from Gaza.
Edit: Let me add that these security concerns could be addressed under a framework of Palestinian sovereignty by allowing a (perhaps temporary) Israeli security presence in the Jordan Valley, or an international force as proposed by Palestinian President Abbas. That is what was actively discussed in the 2013 peace negotiations, such as they were. PM Netanyahu has advocated annexation of the area as a populist appeal to his right wing base. Ultimately, the Jordan Valley is both symbolically and substantively integral to Palestinian national ambitions. Even following an Israeli annexation, this area may ultimately pass to Palestinian sovereignty. Annexation to Israel is certainly a step in the opposite direction, but Israel has in the past negotiated to cede areas it had previously annexed, such as the Golan Heights.
Before the Six Day War in 1967, the West Bank (a name given by Jordan to the territories under its control west of the Jordan River) was completely under hostile, enemy control. The width of Israel's heartland, from the sea until the [at the time enemy state of] Jordan was only 9 miles. Also, the West Bank consists of hills and highlands that overlook Tel Aviv and the major population centers of Israel.
This was always a strategic danger to Israel's existence and in 1967 it looked as though Israel would finally be wiped out by Jordan, Egypt and Syria using their strategic geographic advantage.
In the end of course, Israel pulled off an incredible upset and even tripled its territory (most of which it has given back in peace agreements). However for Israel to go back to a situation where it would put its commercial and financial center between the sea and a hostile mountain range armed with unlimited weapons, would effectively guarantee a future war. That is why Israel feels it must have full control of what kind of weapons could be imported and possibly placed in these mountains.
Has anyone covered the water question ? The Jordan river and Sea of Galilee is the largest drinking-water supply in the region (fresh water from the mountains in Lebanon and Syria.) The competition for water between Israel, Syrie and Jordan was one of the reasons for the 1967 war wiki on Sea of Galilee.