Fact-checking row: Trump signs executive order targeting social media giants

Addressing the media, Trump said the order would "protect and uphold the free speech and rights of the American people."

He said, "My executive order calls for new regulations under Section 230 of the Communications Decency Act to make it that social media companies that engage in censoring or any political conduct will not be able to keep their liability shield."

Describing social media as "one of the gravest dangers" against free speech in American history, Trump said, "A small handful of powerful social media monopolies control the vast portion of all private and public communications in the US."

He said, "They've had unchecked power to censor, restrict, edit, shape, hide, and alter virtually any form of communication between private citizens or large public audiences."

Trump said, "Currently social media giants like Twitter receive an unprecedented liability shield based on the theory that they are a neutral platform—which they are not."

He added, "What they're (social media giants) doing is tantamount to monopoly. It's tantamount to taking over the airwaves—can't let it happen. Otherwise, we are not going to have a democracy or anything to do with a Republic."

Twitter responded to the order saying that it is "a reactionary and politicized approach to a landmark law." It said, "Attempts to unilaterally erode [Section 230] threaten the future of online speech and Internet freedoms."

In a statement to BBC, Google said that changing Section 230 would "hurt America's economy and its global leadership on internet freedom."

On Tuesday, President Trump had posted two tweets claiming that mail-in voting leads to widespread voter fraud.

Without providing any evidence, he wrote, "There is NO WAY (ZERO!) that Mail-In Ballots will be anything less than substantially fraudulent."

Twitter flagged the tweets with a warning label, describing them as "unsubstantiated."

Trump had then slammed Twitter for "stifling free speech."