President Donald Trump said Monday that Walmart has agreed to lower prices on a range of products after a request from his administration tied to the nation's 250th anniversary celebrations.
In a post on Truth Social, Trump said Walmart would reduce the price of a pound of ground beef by "almost" 15%. He did not provide details on when the discounts would begin or which other products would be included.
"This is a huge deal for the many millions of Americans who, smartly, shop at Walmart," Trump wrote. He called the retailer "a truly patriotic Company who loves the U.S.A."
Walmart confirmed after Trump's post that it was lowering prices. The company's press release did not mention Trump or the White House; in a possible nod to the anniversary, it said it will make price cuts across "250 items."
It was the second time on Monday that the president promoted a specific company. "Go out and buy a Dell computer," he said at the White House on Monday morning, as he highlighted Michael and Susan Dell's $6.25 billion donation to Trump Accounts. The comments raise questions about how much politics is influencing business decisions.
Walmart declined to comment on whether the sales are the result of a meeting with the White House. A person familiar with the issue told Business Insider that some of the price reductions were rolled out last week.
Here is a list of products that will have lower prices, according to Walmart's statement:
- 1 lb. 73% Ground Beef Roll, Fresh ($5.94, was $6.74)
- Fresh Sweet Corn on the Cobb ($0.25 each, was $0.68)
- Fresh Red Cherries 2.25 lb. bag ($5.63, was $11.18)
- Great Value Ice Cream 48 fl. oz ($2.50, was $2.97)
- Lay's Classic Potato Chips 8 oz bag ($2.50, was $2.97)
- Frito-Lay Family Fun Variety Pack, 18-count ($8.97, was $9.97)
- Great Value Disposable Paper Plates, 200-count ($8.97, was $9.97)
- Coca-Cola, Diet Coke and Coca-Cola Zero Sugar 24-packs ($9.97, was $14.97)
- Pepsi, Diet Pepsi, Dr. Pepper and Diet Mountain Dew 24-packs ($9.97, was $13.97)
"This summer, we're making even more investments in price, with thousands of Rollbacks across the products customers are shopping for most including beef, fresh produce and beverages, grills, pools, toys and summer fashion apparel," Julie Barber, Walmart's Executive Vice President and Chief Merchant US, said in the statement.
The price cuts will also extend to Sam's Club, according to Walmart's statement.
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