For the $billion $trillion worth of goods and services that America buys from India, China, S.Korea and Japan,
yes it sets the laws for that.
Indians and others obey those laws and make mucho money.
Won’t any large buyer would do and the seller like India would oblige?
The laws mean the specs, the standards, the pricing set by Walmart and other importers in the US.
p.s. America doesn’t care much what a country does within its own boundaries. It can buy stuff if it is cheaper form democracies, dictatorships and everything in between.