The law would really just be to get American/western companies all on the same ground with regards to data security. At least with that we can object to China's

The law would really just be to get American/western companies all on the same ground with regards to data security. At least with that we can object to China's practices with a straight face and Western countries would have a united front. In reality the CCP would be incapable of adhering to the law since it conflicts with their own laws about being able to review and monitor communications. But the difference is our objection would material and apply broadly rather than the case by case depending on the mood of the Executive branch. If the law existed, the sale of Musical.ly would have never happened at least in the same manner. Most likely it would have been strong armed into Reddit/Tencent arrangement where it's only an exchange of capital & equity.