Trump takes credit for Walmart price cuts
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Customers shop at a Walmart store in Chicago, Illinois. Photo: Scott Olson/Getty Images
Walmart said Monday it is cutting prices on thousands of grocery, household and seasonal items at its stores, online and Sam's Clubs, news that President Trump sought credit for in a Truth Social post.
Why it matters: The nation's largest retailer is again at the center of the affordability fight, with Trump under pressure to show progress on prices heading into the midterms.
State of play: The company framed the move as a summer savings push, pointing to price cuts on grilling staples, drinks, produce, apparel, toys and outdoor items.
- Walmart's announcement did not mention Trump or the administration.
- A Walmart spokesperson declined to comment about Trump's post.
The price cuts took effect last week, a Walmart spokesperson told CBS News.
What they're saying: Walmart would lower prices "by a lot" at his administration's request to celebrate the country's 250th birthday, Trump said in the post.
- He cited a nearly 15% cut on a pound of ground beef.
- He also said other retailers should follow Walmart's lead.
By the numbers: Walmart's listed cuts include:
- 1 pound of 73% lean ground beef at $5.94, down from $6.74, about 12%
- Fresh sweet corn at 25 cents each, down from 68 cents
- 2.25-pound bag of red cherries at $5.63, down from $11.18
- Coca-Cola 24-packs at $9.97, down from $14.97
- Pepsi, Dr Pepper and Diet Mountain Dew 24-packs at $9.97, down from $13.97
Sam's Club is also lowering prices on more than 250 items, including chicken wings, hot dogs, ground beef and pork ribs, Walmart said.
Flashback: "We're continuing to invest in prices, extending the rollbacks. We started in the second half of last year, and we now have about 7,200 rollbacks in place," Walmart president and CEO John Furner said in the company's May earnings call.
- "We're also finding ways to help families stretch their dollars as outdoor summer activities get underway."
Context: Trump has faced backlash over inflation during his term as prices climbed after his tariffs and energy costs rose during the Iran war.
Between the lines: Walmart gets to spotlight value at a moment when shoppers are still squeezed and Trump gets a household-name example for his argument that prices are coming down.
- The available public record does not confirm Trump's claim that the administration caused the cuts.
What we're watching: If Walmart's price cuts continue into the upcoming back-to-school season, if other retailers compete and if Trump takes credit.