US President Donald Trump announced on Truth Social on 6/7 that Walmart would implement significant price reductions, especially on ground beef, at the government's request to commemorate the 250th US Independence Day. The world's largest retailer subsequently confirmed this, stating that the price of one pound (0,45 kg) of ground beef decreased by about 12%, to USD 5,94. Prices for Coca-Cola, PepsiCo, various sodas, and snacks were also lowered.
Walmart also stated that over 250 products at its Sam's Club stores also saw price reductions, including a 3% decrease for Member's Mark ground beef.
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Shoppers at a Walmart supermarket in Porter Ranch, Los Angeles, US. Photo: Reuters. |
Shoppers at a Walmart supermarket in Porter Ranch, Los Angeles, US. Photo: Reuters.
These price reductions come as US consumers face record-high ground beef prices, tightening their belts amid rising gasoline costs since late February, coinciding with the Middle East conflict. Steak and hamburger beef prices have also climbed due to prolonged drought, which scorched pastures, increased feed costs, and forced US ranchers to reduce their herds. Economists predict that rebuilding these herds to boost domestic supply will take many years.
Trump lauded Walmart's move, writing in his post that the price reduction "is a great deal for tens of millions of Americans shopping at the world's largest retailer - a truly patriotic company." He urged other retailers to "follow the example of these true patriots."
Economists and investors consider Walmart's business performance a key indicator of US consumer activity. The company serves approximately 255 million shoppers weekly, either in stores or online, with 90% of the US population living within 16 km of its nearest store. Recently, Walmart has attracted more middle and high-income customers as inflation erodes household budgets.
This price-cutting initiative marks a shift from last year. In 5/2025, Walmart warned that Trump's import tariffs could lead to higher prices, a statement that displeased the then-US President. He responded on social media, asserting that Walmart should "bear the cost of import tariffs themselves" and "not add any amount to customers." In line with his previous efforts to influence beef prices, Trump also advocated for importing Argentinian beef with low tariffs and directed the Department of Justice to investigate potential collusion among US meat processing companies to inflate prices.
Ha Thu (according to Reuters)
