Walmart announced a 12% price reduction on ground beef rolls, lowering the cost from $6.74 to $5.94 per pound. The retailer also reduced prices on other products, including corn, red cherries, ice cream, potato chips, and soft drinks. President Donald Trump claimed the price cuts were made at his administration's request to celebrate the U.S.'s 250th anniversary, calling Walmart a "truly patriotic company." Walmart's statement, however, did not mention any administration involvement, framing the reductions as part of summer promotions to help customers.
Trump also highlighted broader efforts to lower prices, citing declines in oil, gas, and prescription drug costs. He criticized the previous administration for inflation, while Walmart has benefited from consumers seeking lower prices amid rising costs. The president urged other retailers to follow Walmart's lead.
The announcement comes as inflation remains a key issue ahead of the 2026 midterm elections. Trump previously criticized Walmart for raising prices due to his tariffs, while the company's CFO noted unprecedented price increases. The White House and Walmart did not immediately respond to requests for comment.