And just because the US is transactional with their other trade decisions doesn't make it good policy.
What does that remind us of? The USSR during the cold war? China, today? No thank you.
I think it would be totally fine to use financial controls to, say, ban US users from buying things from ByteDance. But consuming free media should never be restricted just because it comes from a country you don't like.
I think an argument against it is generally the classic, "that takes generations and I don't want to pay for that today. I want my market locked down for my benefit today."
Either way, the issue at hand is whether or not US citizens/residents should be allowed to see certain things that come out of China, not whether or not we can and should be able to spread our ideals to China.
Also, tit-for-tat may be emotionally satisfying, but it isn't a universal strategy for all situations. There are frequently better ways to get what you want.
China bans American software companies from their market, thus giving an advantage to local alternatives.
Those local alternatives on the other hand get unrestricted access to American markets.
Why exactly should they be allowed to operate?
Trade is always reciprocal, and software should not be an exception.