In one way, yes, it seems like reciprocity, but the impact here seems to be larger than a diplomatic dispute: China is communist, US is free (in terms of public imaging). So in that positioning, while China as a communist, authoritarian nation would be the type to ban online services, the US is supposed to be "better than that."

In any case, I think that the result of this is more that TikTok will sell at an even cheaper price, since it's coming from a position of weakness, not strength. And for WeChat -- who in the west actually uses it? The impact there I believe is a slight dip in Tencent Holdings' stock price, which will quickly bounce back.