Did you read the May 28 EO? Read that.
I think the planned enforcement is a three step process. EO, Agency rulemaking, court action seeking a court order, details of which will be designed to get the content regulator to comply with the rule.
There may be fines, but I don't think those would be effective.
A good part of all this is to raise public awareness that the sources of informtion are filtered agitprop and unreliable. Some Americans like freedom of the press. Ironically, the press does not ;-)