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The other, less obvious logical extreme is to consider why so many Americans would voluntarily consume foreign propaganda, figure out what makes it so compelling, and then produce equally or more compelling counter-propaganda.

(But I think the unspoken part is that it's not really Chinese propagandists cooking up viral stories (they're way too boring for that) but instead Americans propagandizing to other Americans, which they have First Amendment rights to do.)

America social media is already largely banned in China. This would just be America lagging in the exchange.

Many countries institute bans on any political speech at all leading up to elections. I'm not sure whether this is beneficial or not, it may be well intended for all I know, but it would be very hard to justify in the United States due to the constitutional framework.

In the democratic ones it's just a ban on campaign ads and opinion polls for the 24-48h before an election and on the election day.

Because American social media only drives color revolutions in other countries! Duh.