No, it's also able to do things like issue fines, which they have, although American law is not amenable to actually collecting those if their assets are all here. I don't really care if british choose to block something on british soil.

Murthy v. Missouri was generally a loss; 6-3 with Justice Barrett for the majority ruling states lacked standing, which is consistent with the Roberts court's informal policy of dodging. Alito dissented, joined by Thomas and I think Gorsuch, and that is worth a read. The more important one was NRA v. Vullo, a unanimous opinion from Sotomayor. Gorsuch wrote a concurrence as did I believe one other justice.