President Trump's efforts to bring Israel and the Palestinians back to the negotiating table are taking place against the background of a broader effort to recast US policy in the region. The memory of Secretary of State Alexander Haig's failed effort, back in 1981, to put together a regional "strategic consensus" against the Soviets may have faded, but the idea behind it is making a comeback. Facing the Iranian revolutionary regime and its proxies on the one hand and radical Sunni versions of Islamist totalitarianism on the other, key regional players are now more open than ever to an informal US-led alliance against their common enemies. The semblance, perhaps even the substance, of progress on the Israeli-Palestinian front can facilitate this; but even more important would be a firm policy on Iran.