The Chinese government sets their (extremely authoritarian) rules on censorship for companies to legally operate in China but the rules apply to everyone equally.
Chinese companies of course have to comply, but foreign companies have the choice to comply or not. Google chose to comply initially but decided to pull out later on. Microsoft/Apple choose to comply and are still operating in significant ways in China.
In contrast, US is proposing to ban TikTok, Huawei, DJI without clear rules: the reason to ban these companies is that they are Chinese companies. In other words, Chinese companies are "born a crime" to the US in the current climate, without the need to show what rules are violated or evidence of wrongdoing.
China also doesn't have the monopolistic power in tech that the US does: forbidding Google to operate in China it's not the same as forcing app stores to de-list certain apps globally.
It's even more absurd to force ByteDance to sell their US business to a US company. If the US feels justified that this could be done on "national security" ground, why shouldn't EU do the same to US tech companies?
I do hope that US citizens see that for much of the world, US is no longer the champion of free market, promoter of free-speech or guardian of world-order. All that matters is if these values benefit US economically or politically.
The US lost it when Japan was economically sanctioned for its competitive auto/electronic sector in 1980s. China is taking the same heat today and India would be the next target if India were to want to play its role on the international stage. The best outcome for the world would be to have multiple strong economies globally that keep each other in check; rather than one country having monopolistic power over all globally significant online forums.