How is this ban actually enforced? By fining American companies for serving specific content. That is the First Amendment issue. SCOTUS simply asserting that it's not in order to make their ruling convenient does not actually make it so.
Is that also free speech? Again, it's just the law and how it is enforced.
"Foreign governments saying things" also existed at the same time the 1st Amendment was written, and there were no carveouts from 1st Amendment in light of that.
In any case: If SCOTUS during its early cases on copyright law (or copyright on the Internet) simply asserted "this has nothing to do with the 1st Amendment," they'd also be wrong. That would be a clear avoidance tactic not to wrangle with the substantive issue. In reality, the big cases on copyright are riddled with 1st Amendment questions, considerations, and constraints.
The law indeed needed to be carefully written to "skirt" any first amendment violations, and SCOTUS unanimously agreed it had done so successfully.
Universal City Studios v Corley
No, it fines American companies for providing services to a certain foreign-owned company.
If this isn't permissible, then sanctions can't be a thing and OFAC can't do its job. (Whether or not that would be a good thing is a separate issue.)
A SCOTUS that simply asserted these questions do not exist would also be laughable.
One very recent entry on this discourse:
https://knightcolumbia.org/content/knight-institute-and-foun...
Haven't these people heard of Wickard v. Filburn?
How can the first amendment be interpreted so broadly that large multinational corporations financially supporting politicians is considered free speech, yet so narrowly that social media isn't part of the media?
You do realize that Rupert Murdoch was forced to become a US citizen because of the same laws that are in question about US media ownership.
Social media is 100% the media. Social media has freedom of speech. Businesses don't have freedom of ownership, including media business. Kinda fucky, but this is very long standing law.
As for social media - it's an advertising platform. The algorithm is deciding what you see based on what sells ads. Who is exercising free speech there? Tiktok and Meta are exercising corporate speech in the name of profit making. They have no right to host such a platform, and the government certainly has the right to regulate it if they do have one.
The government can't compel Meta, Tiktok or individual users to say X, Y, or Z, they can declare the ads-based algorithmic-content business model illegal or subject it to strict regulation - especially when its in the furtherance of free speech, like preventing Facebook from deplatforming people for having the wrong opinions that advertisers don't like.
Go read the SC unanimous judgment. It’s very clear and lays out exactly why they’re wrong.
In fact they do a lot more than that because they state off the bat that there isn’t even a first amendment question (a Chinese corporation doesn’t have first amendment rights in the U.S.), but they go beyond, assume the first amendment does apply, and still explain why that isn’t valid.