Walmart is lowering prices on dozens of summer staples in notable reversal from last year

Walmart also said more than 250 items at its Sam's Club warehouse chain will be discounted. Member's Mark 88/12 ground beef, for example, will fall from $6.17 to $5.97 per pound - (Getty Images)

Walmart has announced price reductions on various summer barbecue essentials, including meat, chips, and soda in a move that President Donald Trump claims came at his request.

The retailer confirmed a 12% price drop for a one-pound roll of 73% lean ground beef, from $6.74 to $5.94, and also discounted soft drinks and other barbecue staples.

The price cuts come amidst record-high beef prices in the U.S., driven by years of drought impacting cattle herds and increasing feed costs, with economists predicting a long recovery period for the cattle supply.

Trump praised Walmart as a “truly patriotic company” and encouraged other retailers to follow suit, while Walmart's move marks a reversal from last year when it warned Trump's tariffs might force price increases.

Walmart, often seen as an indicator for the U.S. economy, has recently attracted more middle- and upper-income shoppers due to persistent inflation, and similar discounts are also being offered at its Sam's Club warehouse chain.

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Trump tries to take credit after Walmart announces it is lowering beef prices