I think the easiest answer to follow for "why is this not prevented by free speech protection" is "the fact that petitioners “cannot avoid or mitigate” the effects of the Act by altering their speech." (page 10 of this ruling, but is a reference to https://en.wikipedia.org/wiki/Turner_Broadcasting_System,_In...)
Congress is explicitly empowered in the Constitution to regulate foreign trade. Free speech is not relevant.
This is a limitation on foreign control of TikTok, not a limitation on speech. TikTok can stay in the us market if it eliminates the foreign control
That's a great point. Hadn't thought about that angle
The easier answer is ”This is really eating into Meta’s revenues”
Simple answer. A chinese owned company has no such rights or protections. Free speech does not apply. The law also does not censor content (so no free speech violation anyway). The law simply bans the distribution of the app on marketplaces stores for reasons stated (national security). Big difference.