TikTok is addicting and decrease your physical and mental health, it could be a potential manipulation tool and spying tool. Costs overshadow profits.

How is any of that different for any other social media platform? And why is TikTok the only one being banned?

Your link about social media addiction has a similar page for every other social media site, and your link about data harvesting says

Researchers studied the app's source code and reported it carries out "excessive data harvesting". Analysts said TikTok collects details such as location, what specific device is being used and which other apps are on it.

However, a similar test carried out by Citizen Lab concluded "in comparison to other popular social media platforms, TikTok collects similar types of data to track user behaviour".

Similarly, a report by the Georgia Institute of Technology last year stated: "The key fact here is that most other social media and mobile apps do the same things."

So only banning tiktok tells me that it's fine for people to be addicted to social media and have their data stolen, but only if it's an American company doing it.