TikTok privacy

https://www.reuters.com/article/us-usa-china-tik-tok/tiktok-steps-up-transparency-efforts-after-privacy-concerns-in-united-states-idUSKBN20Y1N2

Foreign companies like Tiktok are having a hard time in the US
The main point raised is that these apps have a lot of private information and could be used by foreign governments to spy on people and threatens US security.
All those points are valid but they also could be said of US apps used in other countries.
The way I see it there are only two ways we can long term from here. Either each country creates its own apps ruled by its own government or we create international committees where we could have a clear definition of how to handle data that is it internationally approved by all members.
I believe the second one is to most feasible one but the side effect would be to slow down the development of new technologies and to limit new companies to create apps because they would need approval from this committee to be commercialized.