Former President Donald Trump stated on Monday that Wal-Mart (WMT) will reduce prices on a range of products, including ground beef, at the request of his administration.

The retail giant indicated that shoppers will see savings on items like meat, produce, and carbonated beverages at Walmart and Sam's Club stores this summer.

Record-high beef prices have strained American consumers' budgets, a burden compounded by significantly higher gasoline prices following U.S. and Israeli strikes on Iran in February.

Persistent drought conditions have destroyed grazing land and driven up the cost of cattle feed, leading to soaring prices for steaks and hamburger meat. This has forced U.S. ranchers to substantially reduce their herds. Economists note that rebuilding herds to expand domestic beef supply will take several years.

Trump said that, in response to the government's request timed with the 250th anniversary of the nation's founding, Walmart will cut the price of ground beef by "close to" 15 percent per pound.

"This is a big deal for the millions of Americans who wisely choose to shop at Walmart. Walmart is a truly patriotic company that loves America," Trump posted on Truth Social.

In a statement, Walmart said the price for a roll of 73% lean ground beef in its stores will drop from $6.74 to $5.94 per pound, a reduction of approximately 12%. The retailer also stated it has lowered prices on other items, including sodas from Coca-Cola and PepsiCo, as well as potato chips.

According to the statement, at Sam's Club, the price for "Member's Mark" brand 88/12 ground beef will decrease from $6.17 to $5.97 per pound, a 3% cut.

"Walmart is acting boldly and strongly, and other retailers should follow these true patriots," Trump remarked.

Previously, Trump had encouraged low-tariff imports of Argentine beef to curb domestic U.S. prices, a move that angered American ranchers. He also directed the Justice Department to investigate potential price-fixing collusion among U.S. meatpackers.

U.S. beef producers had previously imported cattle from Mexico for fattening and slaughter to supply American consumers. However, Washington banned such imports over a year ago due to the spread of the "flesh-eating" New World screwworm parasite in Mexico.