The expectation is that the Trump executive order on social media will include a review of Section 230 of the Federal Communications Act for the possible elimination of protections for Twitter and other social media companies. The effort would be hard to succeed without...

...without congressional action. As a private actor, Twitter is not the subject of the First Amendment but the President and his administration are. There are also separation of powers concerns with any unilateral or constructive amendment of Section 230...

Trump in my view is right in condemning the action of Twitter. The focus should be on the company's assault on free speech principles. Anyone who values free speech on the Internet and social media should be appalled by this action regardless of their feelings about Pres. Trump.

Trump’s call for eliminating protections under Section 230 was previously proposed by Democrats. Indeed, Trump’s action could produce an involuntary muscular response from Democrats in opposing the very crackdown that they previously threatened ... https://thehill.com/opinion/civil-rights/499874-twitter-and-trump-raise-stakes-in-fight-over-free-speech-in-america

...They may also defend the free speech rights of Twitter despite long opposing the such free speech rights for companies in cases like Citizens United. There is an alternative. Twitter could return to neutrality and Trump could return to tweeting. https://thehill.com/opinion/civil-rights/499874-twitter-and-trump-raise-stakes-in-fight-over-free-speech-in-america