President Trump signed an executive order aimed at limiting the broad legal protections enjoyed by social media companies, two days after he tore into Twitter for fact-checking two of his tweets.

“We’re here today to defend free speech from one of the gravest dangers it has faced in American history, frankly. A small handful of powerful social media monopolies control the vast portion of all private and public communications in the United States. The tech companies have unchecked power to censor, restrict, edit, shape, hide, alter a large sphere of human interaction. They have points of view”, - Trump said from the Oval Office.

His administration hopes the order will eventually set the stage for new regulations on tech platforms such as Twitter and Facebook.