What are the larger implications of the U.S. TikTok ban?

In the U.S., as many know, TikTok is being banned due to "national security" reasons. Let's face it, though, the focus on 'national security' seems to mask a deeper interest in ensuring U.S. control over user data. Now, the banning of TikTok itself isn't really what I believe people should be concerned about. It's that this sets a precedent for a long line of internet censorship, and actions like these could even be compared to that of the Patriot act or China's Great Firewall. This could even potentially result in citizens having less freedom of speech and expression in the future. Now, I don't believe this would only affect the U.S., see, other countries have a good history of following U.S. actions, and with this ban, it could potentially open the gateways for other countries to begin to use this as justification for restricting freedom in their own countries. The clear solution here is necessary: a data privacy law. So, with all that said, do you think banning TikTok is the right approach, or does it risk opening the door to greater government control? How can we protect both privacy and freedom online?