Wait for White to touch his LSB then take on c4 to play against an IQP, this just strikes to me as a bad version of the Panov
French defence exchange variation: facing early c4
it's not bad. it works in part because of bd6 blocking the d-file making it difficult to put pressure on the isolani. even if black manages to win a tempo with dxc4 white will retain more space and active play. there is no advantage objectively speaking, but this version of the isolani is not worse than the one you get from the panov. it could even be argued that with the pawn on c6 instead of e6, the king is less well-protected.
after nf6 you have to be aware of a few plans for white. cxd5, c5, and the isolani losing a tempo deliberately with bd3.
against the isolani plan i think yusupov plays the c6 setup but there's also the nc6 setup which is supposed to be better, aiming for a more active piece deployment instead of trying to restrain d5
i play the exchange french and exactly this line against bd6 as my main repertoire. now i don't play the black side of the e6 panov, the karpov line, but i can get the same isolani position from one of the lines of the nimzo with e3, so i know white's plans.

While playing for black in the french defence exchange variation, I find myself lost after white plays an early c4 - I am not sure about the logic and reasoning behind black's possible replies.
Should black take on c4 (5. ... dxc4) (which seems to aid white in developing his LSB) ? Or reinforce with 5. ... c6 or Nf6?
4...Bd6 is not best for this exact reason, 5.c4!
Black should wait to develop his Bishop until White has done one of two things:
A) Moved his Bishop. Now if c4 by White, you can take it and gain a tempo.
B) White has already played c3 or c4. If he played c3, go to d6. If he played c4, go to b4.
After 1.e4 e6 2.d4 d5 3.exd5 exd5 4.Nf3, Black should play one of 3 moves:
4...Nf6 - Going for symmetrical lines
4...Nc6 - Going for a more dynamic setup and looking specifically for asymmetry
4...Bg4
After say, 1.e4 e6 2.d4 d5 3.exd5 exd5 4.Nf3 Nf6, if White plays 5.Bd3, only now you should play 5...Bd6. If 6.c4, take it. If 6.O-O, you do the same, 6...O-O
After say, 1.e4 e6 2.d4 d5 3.exd5 exd5 4.Nf3 Nf6, if 5.c3, then 5...Bd6 is fine. Now 6.c4 loses a tempo for White just like developing the Bishop to d3 does, and Black can take it and you have the same position you have after 5.Bd3 Bd6 6.c4 dxc4 7.Bxc4.
While playing for black in the french defence exchange variation, I find myself lost after white plays an early c4 - I am not sure about the logic and reasoning behind black's possible replies.
Should black take on c4 (5. ... dxc4) (which seems to aid white in developing his LSB) ? Or reinforce with 5. ... c6 or Nf6?