It does not partition the land.
It puts a hold on annexation, until 2024 - at which time President Trump would still be in office, if re-elected.
He would then be negotiating with Palestinians who hold far fewer cards.
President Trump is outflanking the Palestinians. As more and more countries sign on, they will find themselves in a position where they can either sign a peace agreement with Israel, or stand alone and get nothing.
Stopping annexation keeps the Land of Israel divided contest to the command of God that not be.
Palestinians in 2024 will be facing a tough negotiator, but he will be a “lame duck,” so they may have an ace to play.
Here’s a thoughtful Messianic Israeli perspective:
https://davidstent.org/strange-bedfellows-in-the-middle-east/