I think Trump has successfully destroyed all of that and replaced it with (rhetoric about) threats of hard power.
The Trump administration is the equivalent of a lazy/absent parent. The kids have no respect for them whatsoever, but they're sick with them for time being and aware that belt hurts when it's deployed.
As such, the US's soft power will remain until the EU is willing to compromise on its welfare state to build an actual functioning defense industry and an economy that prioritizes innovation over taxes/regulation.
But I am skeptical the EU/UK will ever reach such a compromise (see: mass riots in France over raising the retirement age, despite it being objectively and clearly necessary; the UK's reluctance to release the triple lock pension despite it impoverishing the country, etc.)
This will require a significant shift of public funding allocation away from welfare, and the public will need to approve it. Will they? I doubt it.