How would we feel if say, China decided Microsoft/Google/AWS/Oracle had to sell to a Chinese company on the grounds of national security?
But no one is saying that ByteDance has to sell TikTok to a US company. Just divest it to an owner that is not beholden to the Chinese government and obligated to share any and all data upon request. Compared to the legal requirements that China puts on US companies operating in China, this is a pretty tame ask.
The Guardian's story on this has more of the important details