It is VERY damaging. He is saying he is guilty in what he did UNDER the instruction given to him by trump. Or shall we say ?canadate for federal office? since He didn?t use his name specifically. So Cohen being guilty of the offense makes Trump guilty.
The only thing team Trump can do at this point is discredit Cohen and paint him a picture of a guy who is no good and can?t be trusted. Problem with that is, Trump has been saying ever since Cohen was raided and before then that Cohen is a ?good guy?. He has said it on multiple multiple occasions. So NOW after this plea, team Trump are gonna have To find ways to discredit him after praising him just months previously...