Looks like the Whitehouse is planning to ban TikTok, at least in the USA. Most of the concerns cited by commentators are around the security of the application, and security of user data.
Imo these are typical problems and issues with a whole range of Android and iPhone apps made by anyone and are not unique to TikTok.
Isn't the answer here at Android/iOS platform level - providing better security and permission control for users?