President Donald Trump aimed to take credit for Walmart’s recent price cuts, despite the store not acknowledging any influence from the administration in its decision. Trump’s administration faced backlash over inflation, which rose following his tariffs and the onset of conflict with Iran. Ahead of the midterm elections, Trump sought to criticize Democrats, labeling them as communists who interfere with private enterprise. However, in his social media post concerning Walmart, he claimed the retailer reduced prices at his administration’s request, stating, “I have just been informed that…Walmart will be lowering prices, by a lot, at my Administration’s request to celebrate our great Country’s 250th birthday.” He noted a nearly 15% reduction in ground beef prices among other items.

Walmart’s quarterly earnings showed benefits from higher inflation under Trump, as customers sought lower prices at its stores and online. Following Trump’s post, Walmart issued a statement about its rollbacks at Walmart and Sam’s Club, aimed at maximizing the summer season for clients and members, without mentioning any administration interaction. The statement highlighted cuts on products like ground beef, corn, cherries, and soft drinks.

Inflation for consumer prices has spiked 4.2% over the past year, notably higher than the 3% rate inherited by Trump, according to the Bureau of Labor Statistics. Some inflationary pressures could diminish due to the interim ceasefire with Iran leading to lower oil prices as tankers move through the Strait of Hormuz.

Trump previously criticized Walmart for citing tariffs as a reason for price hikes, urging the company to absorb these costs. He accused the retailer and China of not “eating” the tariffs, stating, “Walmart made BILLIONS OF DOLLARS last year, far more than expected…I’ll be watching and so will your customers.”