tiktok

Thousands of lawsuits, millions of pages of internal records, and endless hours of deposition transcripts are about to hit U.S. courtrooms — posing a serious threat to the future of the biggest social media giants.

President Trump and Chinese President Xi Jinping are set to seek a breakthrough agreement on Friday aimed at keeping the popular video app TikTok in the United States, while also easing the mounting trade tensions between the world’s two largest economies currently locked in a high-stakes standoff.

U.S. Treasury Secretary Scott Bessent announced after weekend trade talks in Spain that Washington and Beijing have struck a framework agreement on the ownership of the wildly popular social video platform TikTok.