The bill is pretty specific in that it only covers a “foreign a adversary country” and specifically ByteDance (TikTok), and only requires disvestment.
https://www.congress.gov/bill/118th-congress/house-bill/7521/text/ih
Whoops, I’m wrong. They snuck in some weasel words to ban anybody:
(A) any of—
(i) ByteDance, Ltd.;
(ii) TikTok;
(iii) a subsidiary of or a successor to an entity identified in clause (i) or (ii) that is controlled by a foreign adversary; or
(iv) an entity owned or controlled, directly or indirectly, by an entity identified in clause (i), (ii), or (iii); or
(B) a covered company that—
(i) is controlled by a foreign adversary; and
(ii) that is determined by the President to present a significant threat to the national security of the United States following the issuance of—
(I) a public notice proposing such determination; and
(II) a public report to Congress, submitted not less than 30 days before such determination, describing the specific national security concern involved and containing a classified annex and a description of what assets would need to be divested to execute a qualified divestiture.
Part (B) sucks