> Twitter already arbitrarily approves, edits, and removes content.

By doing this Twitter is behaving as a publisher. Then why should Twitter not be treated like one?

I sincerely doubt he'd be drafting this order if, say, Joe Biden's tweets were the ones getting fact-check labels added to them. I can see it being a step towards Trump/Republicans using such an order to suppress criticism though; let's say... a Democrat campaign ad that attacks Trump or calls him out.

Either way, the only intention behind this drafted order is entirely self-serving. It's a complete knee-jerk reaction.