There's an argument that foreign policy should override domestic politics when dealing with adversarial powers we elect our officials to stand up against. It's not a popular view, because few Americans pay attention to or care about foreign affairs. Under the condition where a foreign power has broadly infiltrated our social systems with a Trojan horse, I think there are rational ways to preserve the First Amendment while targeting the offending social/information virus. This law isn't that, but it probably won't pass and large parts of it would definitely would be struck down by the courts if it did.

Whatever "many people already think," though, it's the responsibility of our government to defend the country from adversaries. That should be done in a way thay doesn't undermine the rights of Americans... but it has to be done or those rights would cease to exist.

TikTok harvesting data and manipulating opinion from a foreign throne is incompatible with having a populace free and unencumbered to make wise and rational decisions to self-govern. Without which all other speech disappears.