The feature, set for immediate launch in the EU with the US to follow later, allows parents to set time limits or establish time windows for being on TikTok, the company said in a statement on its website read more TikTok on Tuesday said that parents will now be able to limit screen times for teen users to prevent overexposure to the app. The move also comes at a time when the Chinese-based video-sharing app has been met with claims that excessive screen time is damaging adolescents’ mental health. TikTok’s update follows in the footsteps of competitor Instagram, owned by…