Washington, July 7 -- US President Donald Trump announced on Monday (local time) that retail giant Walmart will significantly reduce prices on ground beef and various other commodities. The move comes after the Trump administration requested the company to implement cuts in alignment with the United States' 250th independence celebrations.

Taking to Truth Social, Trump expressed his appreciation for the decision, stating, "Great news! I have just been informed that one of the biggest, best, and smartest retailers in America, Walmart, will be lowering prices, by a lot, at my Administration's request to celebrate our great Country's 250th birthday."

He further noted the specific details of the reductions, adding, "Walmart will, in particu...