That's a straw-man argument. Most people don't know nor care that TikTok is software made in China. The feds seem to care, but they're playing politics, and there is not much overlap with what Average American cares about.
This is one thing that always perplexes me, so since you seem to be one of the people that are concerned by this I ask you why? What do you believe china will do with the info gleaned from TikTok data?
Personally I am more afraid of my own government than I am of china, See my government has the power to put me in a cage, or even kill me if I defy them. They have a the power to unilaterally declare an "emergency" to put me under house arrest, they have the power to close my business at will....
If china attempted to any of these things to me here in the US that would be an act of war, but when my own government does it that is perfectly acceptable and even endorsed by the courts of this land
Well as Lincoln said decades ago, we if falter and loose our freedom it will be because we have destroyed ourselves
I think China is a threat, and they will cease upon our weakness, but I do not believe China can do this on their own
For the US to fall, it will be down to our own hubris and internal division, not an external force or a china run Social media service hosting 30 second banal mindless videos
I think there is reported cases of China actively attacking (and doxing) non-Chinese users that post "bad" things on their network -- the hive mind taken to the next level.