When American companies invade the privacy of European citizens, it's because Facebook is collecting marketing data to make a buck. The concerns the US has about these Chinese companies is not that these companies are collecting too much marketing data, but that the CCP has coopted them into doing espionage operations on their behalf. Note that the US didn't care about these Chinese companies back when they were only collecting marketing data. It has only been since Xi's recent consolidation of power and crackdown on the autonomy of big tech that these issues have been hot topics.