2. If you are a purely US entity with no actual business presence in the EU, you only need to comply with US laws and nothing else. If the EU doesn't like a purely-foreign website, it's on them to set up a national firewall and block it.
Case in point 1: It's not on you to comply with China's laws, it's on them to block it if they want to
Case in point 2: China's local businesses with no EU presence do not follow GDPR and do not display cookie banners even if accessed from the EU
1. When is the last time you saw China enforcing its laws outside their borders? Why would EU be any different?
2. China has laws that are directly contradictory to GDPR laws; you may be required to retain data regardless of consent; if your website is based in China you have to follow local laws first before you follow contradictory foreign laws that have no jurisdiction over you.