Trump Presses Walmart, Kroger to Cut Ground Beef Prices by Up to 12% on July 8

According to WSJ, the Trump administration pressed major U.S. retailers including Walmart, Kroger, and Albertsons to cut beef prices on July 8. Walmart responded by reducing prices on thousands of products, with ground beef prices cut by up to 12%. Trump subsequently stated that Walmart's action came at the government's request and called on other retailers to follow suit. However, U.S. cattle inventory remains near 75-year lows, with ground beef prices still up 12% year-over-year in May, indicating food inflation pressures persist.
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