It's both. It gives the President the authority to designate an app as controlled by a foreign adversary, forcing it to be banned or sold. It also names TikTok in particular. I didn't know about the second part until I read the original text* just now, since every summary missed that, but I'm not happy about that part either.
* https://www.congress.gov/bill/118th-congress/house-bill/7521...
To clarify, the law bans TikTok and also lets the president ban other apps in the future.
> The "uncensoring" is done by the executive branch.
Interestingly, the executive branch is still under Joe Biden at the moment.
TikTok content has changed in tone and tenor since President-Elect trump's policy reversal. Looks like he'll have ByteDance working for him like he did Russian fake news during his last regime.
The "uncensoring" is done by the executive branch.