By giving the President the power to ban websites, not just apps, it opens up a whole new can of worms.
Instead of targeting foreign adversaries directly, the law holds US (or offshore) internet hosting services and app stores responsible for any breaches in security or privacy.
This is a Trojan horse that could lead to censorship and control over what people access online.
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I think, if this passes, TikTok will just stop providing access to the app in American app stores. It shouldn't stop you from typing the website into your browser and accessing it, that would require ISPs to block access to it which I haven't heard of being part of the law and isn't in these screencaps.