I think it depends on the size of the company. Some maintain a further distance from the party successfully, some even manage to criticise it, but I don't think you get to ByteDance levels of growth without close connection to the party. Consider that ByteDance has its own CCP Party Secretary.

Of course, this doesn't mean you're exploiting US data at the whim of the party, which is what Trump's actions imply the company is doing. I think you can successfully maintain a separate US structure from their Chinese one, and I don't think China really cares much for what US people do in their own country.