This administration has done more to undermine US power than probably any in history. This isn't a new statement either (eg [1]). Personally, I think that's not such a bad thing because we are the bad guys. I know people get all in their feelings when you say stuff like that but the number of democratically elected governments we've overthrown, just to get their resources, is indefensible.
This week it broke that China is pretty far along in duplicating EUV litthography. The US restricts ASML, a Dutch company, from exporting their best machines to China and Korean, Japanese and Taiwanese companies from exporting their chips to China. The second one was a massive mistake. Why? Because it created a marekt for China to produce chips because they had no other choice.
Geopolitically I think this is very similar to the USSR copying the atomic bomb in just 4 years after WW2 where US leaders either thought it was impossible or would take 20+ years.
The US has become unpredictable and unreliable. Ukraine is a big part of this because Europe is waking up to them having to be responsible for their own defense and that ultimately will undermine US power projection through NATO.
Since very early in this administration, probably back when the tariff nonsense began, I believed that Europe would be forced to distance themselves from US tech giants and at some point the EU would require cloud storage to be within EU borders and eventually require European companies to own and run that cloud rather than US companies.
China has their own version of virtually every tech company. I can see the EU moving in this direction for key functions and cloud is likely the first of those.
What's really precarious is the entire US economy is now essentially a bet on US companies owning a global AI future and I honestly don't think it's going to happen, mainly because China won't let it happen. DeepSeek was a shot across the bow for this and only the beginning.
What you really need to remember about the current administration is we're not even 1 year into a 4 year term with everything that's happened and the entire foreign policy is kleptocratic not strategic in nature.