Imagine US companies suing China for not allowing them to operate there. People would say "China can decide what they want to allow". Well if China can decide (which they did first) two can play this game. Also TikTok says this ban is baseless. If USA's ban of TikTok is baseless, what base does China have for banning everything?
China is a totalitarian regime which doesn't follow due process and basic freedoms. I strongly hope that your strange "tit-for-tat" doesn't extend to basic rights of people and businesses on US soil. US is supposed to be better than that, remember?
Expand on these basic rights that are violated if TikTok is banned. And since when do foreign businesses have basic rights in US or any other democracy?