It’s just puffery. Trump has zilch to worry about. If you want to address this specific allegation head-on: Trump had $480,000 retainer with Cohen. Cohen was his legal representative. Cohen says Trump told him to pay Daniels. So Cohen did not use his own money, he used Trump’s retainer, and therefor it could not be construed as a donation. So Cohen is pleading guilty to a crime he did not commit.
And there are many other ways to challenge this particular allegation as well.
But Trump doesn’t have to address the charges. And he hasn’t. Because no matter his guilt or innocent he cannot be charged with the crime anyway. The only way to get him is through Congress and the Senate and that just isn’t going to happen - not with these charges, anyway.
But Mueller is desperate to tie some kind of crime to Trump. So he got Cohen to plead guilty to this campaign finance crime simply to make the argument that Trump broke the law. And one of the few ways to break attorney-client privilege is when the client and attorney both commit the same crime together. So it is a huuuuge stretch, but by getting Cohen to cop to this campaign plea Mueller is trying to break the lawyer-client privilege and of course try to paint Trump with the same brush. IMO it won’t work. Very weak. If this is the best they got, then it is over.
Now, time for payback.
I suspect it was a mere formality that had to be included among the charges once the case reached a point where formal charges would be filed -- regardless of whether the case went to trial or was worked out in a plea deal. If you remember, this all goes back to the raids on Cohen's home and office and the seizure of all that information related to his dealings with Trump. A violation of attorney-client privilege is only justified in this case if the lawyer is targeted as a "co-conspirator" in a crime, so the prosecutor had to include a charge against Cohen loosely tied to Trump in order to justify the raids at all.
It may end up falling on Trump to fight Cohen's battle (as Cohen's client) on those two charges, but it seems like Cohen might have done him a favor by giving Trump -- as a private citizen who was not the President of the United States at the time -- a legal avenue to go on the offensive against Mueller over the original raid.
This was by intent. The public will think the non-crime was a crime, even though, because of the plea, it won't be tested in a courtroom.
That's the funniest part. Cohen, who is a lawyer, and his lawyer lanny the fanny are pretty dumb.