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Illustration: Lazaro Gamio/Axios

Twitter labeled a video posted by President Trump of a black toddler and a white toddler — edited with a fake chyron that read "terrified todler runs from racist baby" — as "manipulated media" on Thursday night.

Why it matters, via Axios' Ina Fried: Although Twitter's label on the tweet is weaker than two other recent moves, it is sure to irk the president, who has already criticized Twitter and issued an executive order seeking to limit the legal shield protecting social media companies.

Where it stands: Trump's tweeted version of the video was removed on Friday in response to a copyright claim. Facebook took the video down from its site as well after "one of the children's parents lodged a copyright claim," per CNN.

A tweet previously embedded here has been deleted or was tweeted from an account that has been suspended or deleted.

After years of failing to take action against Trump's tweets, this is the third time in recent weeks that Twitter has acted against the president's tweets.

  • The first time, the company added a fact-check to a Trump tweet that misstated how California was handling its mail-in voting.
  • A few days later, Twitter both labeled and limited promotion of a tweet regarding the Minnesota protests that the social media site found to be glorifying violence.

Our thought bubble, via Axios' Kyle Daly: Twitter seems to be growing more comfortable with checking Trump after years of being criticized for holding him to different standards than other users.

  • That’s despite the company's first move to flag his tweets last month appearing to trigger an executive order aimed at undermining legal protections that social media companies say are vital to their existence.

Details: Facebook separately took down Trump campaign ads Thursday that labeled antifa with a symbol the Nazis used for political dissenters.

Go deeper: Trump's big, empty beef with Twitter

Go deeper

Felix Salmon, author of Capital
Updated Sep 24, 2020 - Economy & Business

Trump risk rises for companies

Illustration: Aïda Amer/Axios

Donald Trump fancies himself a businessman — and has given himself a central role in determining the conduct and even the existence of major companies both domestic and foreign.

Why it matters: America has historically been a great place to operate a company under the rule of law, and not be beholden to political whim. Those days seem to be over — at least for companies in the communications industry.

Updated 8 mins ago - Economy & Business

Tax season nightmare ahead for understaffed IRS

Illustration: Shoshana Gordon/Axios

The IRS will start accepting 2021 tax returns in less than a week, and the filing delays and administrative headaches to come might eclipse last year — which was “one of the worst filing seasons," according to an independent advocacy agency within the IRS.

Why it matters: For taxpayers, especially with complex or paper filings, this means headaches, delayed refunds, and mistakes.

China builds its own movie empire

Expand chart
Data: Gower Street citing Comscore; Chart: Kavya Beheraj/Axios

China blocked all four of Disney's Marvel movies from being released in its theaters last year, a grim sign for U.S. film giants being squeezed out of the world's fastest-growing box office.

Why it matters: The Chinese Communist Party is using domestic films as a key conduit for mass messaging aimed at achieving political goals, leaving little room for foreign views.