ByteDance is a Chinese company and Meng is a Chinese citizen, only Chinese laws apply to Chinese companies and citizens inside China and American laws are irrevelant to non-Americans not in America. Chinese laws prohibt ByteDance from any sale and as a Chinese company that law is final and supeseed all other laws. If US law does not allow them to operate in the US ByteDance will leave the US, that's the limit of US authority. Note it does not mean ByteDance have to prevent Americans from accessing TikTok after they leave America.On the other hand, how do you feel about the US government enforcing American laws upon Chinese citizens (e.g. Huawei's Meng Wanzhou)?
Having just skimmed the , which is the legislation mandating TikTok's sale-or-ban, I'm of the impression that a region specific divesture of TikTok is the theoretically feasible, at least per the bill's verbiage.
Granted, any sort of divestment on the part of ByteDance will inevitably be complex and difficult to negotiate and consummate not only due to the value and popularity of TikTok as a platform, but given the political intricacies in play.
To be more specific, what the crux of the matter might be here is on whether divesture by ByteDance materially occured.
However, as you can imagine, such presidential determinations are subject to a great deal of executive discretion. So really whether a sale can go through or not will largely depend on the whims and preferences of the sitting US president.
If that's too complicated for you, let me simplify it more: what Americans want is irrevelant, only what China wants matter and China already gave the final ruling.