I'm all for banning apps that carry spywares (either by app store policies, or privacy laws), but I see no reason why such ban applies only to apps published by Chinese companies, rather than all apps.
Outside of spyware we should also consider the fact that Tiktok tailors it's algorithm to serve educational content in China and nuclear waste-grade garbage to the West. That should provide some guidance here. We need to move past the black-or-white thinking and add more nuance to the discussion.
China wouldn't allow a social network to abuse Chinese children, but in the US the only social networking business model is shoveling crap into the mouths of children and teenagers. Their crime is identical to Youtube's, and nobody is considering banning that.