Whichever way you personally feel about this issue, it does seem apparent that clear legislation is required to clarify doing business with China and similar countries.
Whilst there is no law stopping these actions, companies have little defence against requests for this type of information (as in, I'm sorry we can't provide you this information as it would be an illegal action of a US corporation); and whilst there is no law permitting these actions, companies which undertake them are at a significant risk (later courts rule against such practices; need to pay significant compensation).
the american government prefers to save these powers for itself. the FISA amendment act is out of committee and working its way through the senate. provisions include protection from such suits for corporations that engage in domestic surveillance for the government. see article on cnet news [news.com].