It's a catastrophic loss of influence. It's a good thing for Europe but terrible for the US. I think that Trump will end up fulfilling his promise is co-incidental. Trump's a lose cannon who's alienated all of America's friends, that he achieved some relatively minor goal is like being proud of losing weight because you have cancer.
Europe has a chance here to become a political superpower, strongly eroding the US centric world view and having influence though something other than brute force of money or military power, which is what China and US are trying to project.