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TikTok's CEO is feeling the pressure and users are freaking out
(www.businessinsider.com)
This is a most excellent place for technology news and articles.
My point is, why isn't that the law were making? Does it not address the same problem?
Not exactly the same problem. In the same way that gun control doesn't address the problem of hostile foreign militaries. Yes, both involve guns, but the laws and policies that address one are inapplicable and inappropriate to the other.
The law in question addresses the problem of foreign adversaries having easy access to manipulate US public opinion. The law you suggest addresses the problem of advertisers having that access. Both are serious concerns, both need to be addressed, but they are not the same problem and the solutions are markedly different.