Why target TikTok only? They should ban any Chinese social media app or network, and that should remain in effect until China agrees to open its domestic audience to Instagram, Google, Facebook, X, etc.
The law permits the President to similarly designate any entity that meets the law's thresholds for a covered company [1] controlled by a foreign adversary [2].
[1] https://www.congress.gov/bill/118th-congress/house-bill/7521... § 2(g)(2)
[2] Id. § 2(g)(1)