As a European: yes definitely. And that won't be fixed if you choose a sane administration again. There can always be another Trump. It will take significant time to build trust again.
Yes. This is important to understand, the trust is broken for a long time. I do not think people will understand what has happend the last year. Europe is slowly (we always move slowly) moving away from US tech. The impact will not be seen/understood completely before 10-15 years have past
As vga1 says, a lot of American services are used by us. American goods too but not quite as much. When Trump complains about his trade balance he always ignores the revenue from services. The trade balance isn't actually bad when you include them.
But also influence through alliance. Even a superpower can't go it alone and use their military to bend others to its will.