You can also flip GDPR on its head - should American web sites be subject to European laws?
The issue isn't that countries can influence each other (and each other's populations and companies), it's how they are using that power that matters.
Or is Europe somehow more special than China?
Most articles I've read on it state the user must be in Europe and taking a product/service delivered to Europe. A US tourist buying something in a store when they arrive in Europe has GDPR protection, a French tourist visiting the US (or even at home in France but buying something online to be delivered to a friend in the US) is not.