@J Kimmel, just my take but it's not a Buy American thing so much as buying something known. There are factories all over the world. There's at least one globally recognized Chinese-made brand called Tiger making stuff for lifting and shipping.
Your point about it not being a problem is fair. It's always been a question of just shear mass. When you're talking about a 4.75 ton working load shackle a "good" one can be proof tested to 2xWLL, e.g. 9.5 tons, and will have at least a 5xWLL design margin, e.g. 23.75 ton minimum breaking.
But that's only because this stuff is used in critical things, mainly lifting stuff overhead. You want a lot of excess capacity to be safe for that.
It's arbitrary that we call them 4.75 tons for vehicle recovery from a strength of material standpoint since there's no requirement to follow that. Still, there are people where WLL is still absolute. Tow truck drivers, for example.
To my mind practically is that even a cheap shackle made from crap steel is probably plenty strong. But not likely 23.75 tons safe. Exactly how much is anyone's guess.
All I can do is know that ARB tested my front attachment point to 9,500 lbs and using a 3/4" pin shackle is the same WLL of 9,500 lbs. Just no second guessing, all the numbers match.
Then I know my winch line, strap or rope will have values. In those cases they're around or only slightly above the WLL and have breaking lower than 5x WLL of the shackle. That means they will give up long before the steel parts. Which is fine, they store less energy. That was a big factor in going to a synthetic winch line for me but avoiding soft shackles at the ends. I do not want the connections on either end breaking but all the rigging in between might. I'll use a soft shackle in the middle and the only significant non-soft thing is my thimble on the end of the winch line. It's a calculated risk using a hunk of aluminum there.
I'm not a fan of using soft shackles at the vehicle end but if all the other parts are synthetic rope and stuff then I'm also not going to argue against doing that. I don't see any reason not to trust hard rigging that's known quality and used within its rating, so putting in known weak points is unnecessary IMO. But I'm also willing to listen to an argument that if you do not know the rating of your connection point then using a soft shackle as a fuse might be useful. I'd still suggest the issue is using unrated (or unrate-able) rigging, though eventually you almost always find that to be the case with vehicles. Toyota is no different than anyone else in not putting a "max load" statement on their tow points and only a few aftermarket companies have the resources to design and test their recovery points.
The same argument is applied to a lot of what we do. How strong is strong enough for axles or bumpers or anything? The whatever is fine until it's not. So I suppose you have to prioritize where you worry and don't, what you can control and what you can't.