TikTok already stores its data in the US and gives the US authorities full access to it.
A courtesy also extended to Beijing [1].
[1] https://www.buzzfeednews.com/article/emilybakerwhite/tiktok-...
This isn't some smoking gun about CCP surveillance, but more about how the sausage is made for a global app.
https://www.buzzfeednews.com/article/emilybakerwhite/tiktok-...