Trump says Walmart, at his request, is lowering some prices to celebrate U.S. semiquincentennial

Donald Trump says Walmart will lower prices on some products after he requested it to celebrate the U.S. semiquincentennial. Photo by Patrick T. Fallon /Bloomberg

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President Donald Trump said Walmart Inc. agreed to lower prices for some products and he urged other retailers to follow suit, touting the move as a boon to U.S. consumers.

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“I have just been informed that one of the biggest, best, and smartest Retailers in America, Walmart, will be lowering prices, by a lot, at my Administration’s request to celebrate our great Country’s 250th birthday,” Trump said in a social media post Monday.

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Following Trump’s post, Walmart released a statement saying it’s cutting prices to help shoppers save money. “Customers can expect savings across grocery, household essentials, outdoor living, toys and apparel,” the company said, listing products from corn and beef to snacks and soft drinks.

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Trump said that “Walmart is stepping up in a big and bold way, and other Retailers should follow the lead of these absolute Patriots.”

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Walmart shares were little changed in extended trading in New York.

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Trump’s post comes as the White House is trying to address voter concerns about high costs for groceries, healthcare, housing and utilities before November’s midterm elections. He won the 2024 election in part by pledging to rein in prices for U.S. households — but voter worries about inflation and wage growth are threatening his Republican Party’s control of Congress.

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Walmart, which for decades has promised “everyday low prices,” uses its vast scale as the world’s largest retailer to secure discounts from suppliers. It traditionally advertises lower prices for certain goods around key holidays such as the Fourth of July and Thanksgiving. The company’s focus on low prices has helped it to pick up market share in recent quarters, including from higher-income consumers feeling increasing financial strain.

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Late last year, Trump similarly sought to publicize Walmart’s pledge to offer its lowest price in years for Butterball turkeys for Thanksgiving. He said American consumers were seeing “across-the-board” price declines for holiday staples.

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Consumer prices have steadily risen since then, economic data show, and concerns have remained elevated following U.S. and Israeli attacks on Iran and their impact on fuel prices. However, prices of many food products have stayed at similar levels in recent months except for beef, seafood, lettuce and others, according to government data.

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Walmart said it was cutting prices for corn and cherries — items that typically cost less in the summer months — as well as for products made by Coca-Cola Co. and PepsiCo Inc. It’s also lowering prices for ground beef, which has been driven to fresh records as the domestic cattle herd remains at a 75-year low.

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The Trump administration has sought to lower beef prices, including by bolstering imports, especially as consumers seek more protein and Health Secretary Robert F. Kennedy Jr. has placed the meat atop his new food pyramid.

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At the same time, the spread of the deadly New World screwworm poses a threat to the U.S. cattle herd.

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The president said Walmart would be “dropping the price for a pound of ground beef by almost 15 per cent, among many other products,” calling it a “huge deal for the millions of Americans who, smartly, shop” at the major retailer.

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Kroger Co.’s new chief executive officer said earlier this year that the grocery store operator is planning its biggest price cuts in years as it looks to better compete with Walmart.

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— With assistance from Ilena Peng.

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