The US policy is purely and simply designed to allow them to keep spying with "approved" US sanctioned equipment, using the backdoors THEY demanded exist.
Bad luck for the US consumers, who now end up with expensive, old tech, with US spy agency sanctioned backdoors.
Yup, and there's more. Let's not forget that this also conveniently helps US companies catch up in a market where they are rather behind, the Huawei 5G affair was the clearest and most blatant example of that (especially if you keep in mind that so far, Huawei is the only one that had their firmware properly screened, and it was found NOT to conatin backdoors by people who know what they're doing such as GCHQ). Basically, it is a clear acknowledgement that the US industry has realised it cannot competer honestly, and so the rest of the world can't have nice things either.
Back to the US intercept efforts, add to that the likes of Google, Adobe, Facebook and Microsoft and the US seems to again to be trying the 2003 TIA strategy they were trying to shove down everyone's throat before, with the difference that people now even volunteer data just to get their (a)social media for free. Honestly, I'm waiting for clipper chip v2.
Thank God that idiot Musk is at least busy ruining one of those channels.