Myles McCormickJul 12, 2026 – 5.44pmWashington | Donald Trump is piling pressure on US companies to cut prices as the war-driven surge in costs pushes inflation to a three-year high and threatens Republicans’ chances in November’s midterm elections.In recent weeks, the US president has warned of “big problems” for fuel retailers if they fail to slash prices, and he has taken credit for pressuring Walmart into reducing the costs of thousands of goods.Financial TimesSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles