Your comment lead me to this article (CNN), because I kept hearing stuff like bytedance is primarily owned by American or non-chinese companies, blah blah blah. So I appreciate you prompting me to look further into it. Seems pretty cut and dry that you're correct. (Wasn't just this article that pointed it out, but it was the most inclusive and concise one I found)
All that said, what information can china get from the app that they don't already have, or can already purchase from any of the other data collectors/sellers available? Is it just the fact they can do it for free?
There's also the option that perhaps the CCP will decide (or maybe has already) to influence what Americans see on the app. Perfectly feasible, but in my experience, it shows you what it knows you like to see. My feed is primarily related to human rights, recent politics, American history, science and tech, and cute dog/cat videos. My wife's feed is primarily horse/animal, music, entertaining things. creepy old dudes complain all they see is half dressed teenagers dancing (we all know why they're seeing that). If they're interfering with the algorithm to influence American politics (like Russia did with Facebook), I think they're doing so poorly.
All we need to do is freaking STOP standing in the way of the UN. How many times has the US vetoed the UN in attempts to assuage the horrors being visited on these Gazan people.