On top of the security concerns it's also not "fair trade" if US social media companies cannot operate in China while theirs are allowed to operate here. There are plenty of alternatives to TikTok now, banning them is a no brainer.
China bans foreign news sites too. Should we ban news sites from all countries that's not U.S. allies?
Instead of targeting the Tiktok, how about we target a proper policy. This baptist vs bootleggers law isn't going to help. This will just mean user will move to copycats like Instagram or Youtube.