I don't think it is the same. The US has always been open to outside investment. But we have things happening right now where a large number of major motion pictures coming out are from Chinese owned companies (like Legendary). Notice how the hero is China in so many films now.

Chinese citizens are buying up media properties and tech stock at a dizzying pace. Meanwhile, American owned media companies are heavily restricted in what movies can be shown in China and what content those movies can have. There are also restrictions of foreign ownership of Chinese companies.

The Trump administration is wasting time taxing trinkets imported from China, when what they should be doing is matching the restrictive laws that China is using to increase their soft power in the US and world.