Either tiktok becomes an American company or leaves… Ah, the free market has spoken
People keep saying this and I'm struggling to understand where this idea is coming from. The bill isn't saying that they have to sell TikTok to a US company. They don't have to sell it to the US government, or an owner in the US. Just divorce the company from explicit control by the Chinese government. Currently, the government can request any data they want from TikTok and they are obligated to provided it. Similarly, business laws in China mean that the government can also push changes down into the company, like a tweak to the algorithm to influence foreign perceptions of a topic for example.
The requirements laid out in this bill are meant to break that obligation and influence. It doesn't say who should own the company - only who shouldn't.
It won't matter if there are ways to side load or circumvent, though. 99.9% of users will not be willing to be bothered with such things and the US market would effectively die for the app.