As if that would even have any effect in that situation. No amount of audits and rules would prevent TikTok from collecting data and manipulating the public opinion.
Why not monitor it? Create thousands of read-only accounts that "prefer" content with all kinds of ideological viewpoints and statistically analyze whether the algorithm is being biased to promote certain viewpoints. I'm not smart enough to implement something like that but it sounds like a solvable problem to me.
I thought about this too. In no way do I suggest it's an actual solution, but I wonder if some kind of reporting could be used as leverage to help appease US leaders towards a solution that doesn't require banning the app or handing it over to them.