What I read the EO is that something will be determined against TikTok, WeChat after 45 days. It did not spell out exactly what will happen. MSM seems to be jumping to 'ban' idea.
In my opinion, if WeChat or TikTok are banned for US citizens, it would be a very bad precedence. In a few years, some other folks would be US president. He/She can ban 'Apps' because those 'Apps' are 'spying' on you. Since when do citizens need government to decide what is good and bad for them? This is the same logic getting the 'Patriot Act' in place.