I mentioned free speech as the other 'freedom" that the US "enjoys". Not to debate one county against the other, but I do agree that US libel laws need to be modified in this dawning era of social media. And if social media doesn't direct more of its profits to police itself against libel, bullying and harassment, then it can expect the government to eventually step in and do it for them. For instance, in the old days, I couldn't purchase an ad in the local newspaper and declare "Commodore Is A Scoundrel". But today, I can post it, without repercussion, for thousands of people to see before it gets taken down. I agree with you though - government is definitely not the best arbiter of truth when it comes to social media.
Anyway, maybe massive tariffs on Tik Tok ad revenues and creator payments are next?