Except this isn't a law against any foreign owner, just specifically a foreign owner that is essentially the #1 geopolitical adversary of the US.
A large part of the US-China relationship is zero-sum. If America loses, china wins, and vice versa. That relationship is not the same for, say, the US-France relationship.
A large part of the US-China relationship is zero-sum. If America loses, china wins, and vice versa. That relationship is not the same for, say, the US-France relationship.