That saying applies to things you cannot take back, like blinding someone, not trade agreements. It's also like an eye for 200 eyes at this point. Tit-for-tat (or some softer variation) is pretty standard diplomatic protocol.
Sure, but can you take back banning a social media platform? Very likely not, because even if you did, it'd still be ruined by a massive loss of users/ad partners/etc.
Realistically, what we needed is comprehensive user privacy legislation, which would prevent anyone from spying on us, including our own government. Likely the reason that did not happen is because our government enjoys access to our user data for various things.