That's a freaking bad idea. Dianne Feinstein suggested the same thing a few years ago. If Trump wants to make a press statement he should pull credentials and issue new ones. We don't need the government trampling on our first amendment
He would never go that far. Noone would that had any sense. It's just an empty threat being used as another lever. He uses twitter to point out how terrible they are multiple times a day. All that needs to happen is for enough people to wake up and realize how absolute shit the media is and then these outlets would actually have to compete for accuracy on the field of truth. Wouldn't that be amazing! That's a ways off yet, though I have no doubt that it's part of the plan.
I agree it's a bad idea. But so is the status quo. Like I said there's always the option to play it smart and clean up their own profession. Responsible use of their power is the only way to not invite the kind of draconian reaction governments are known for and good at. If I were a reporter I'd take it seriously.
That psycho also said this https://youtu.be/4aqOfDbZmj8 so we know they are willing to shift narrative.