US President Donald Trump has seized on McDonald’s revived “Extra Value Meals” as fresh proof that prices are “coming down” in America, even as many households continue to struggle with higher food and housing costs.
Speaking at the McDonald’s Impact Summit in Washington, D.C., Trump lavished praise on the fast-food giant for reintroducing $5 and $8 Extra Value Meals, telling franchise owners and suppliers that the chain was “playing a very big role in getting prices down for this country.” He described himself as one of McDonald’s “all-time most loyal customers” and joked about his campaign-trail photo-op as a “fry cook,” using the familiar brand to give his affordability message a populist sheen.
A fast-food stage for an affordability pitch
The event has become a key backdrop for Trump’s attempt to reset the political conversation around the cost of living. At the summit, he claimed credit for pushing inflation back to “normal” levels and told the room that Americans are “so damn lucky I won,” arguing that his tax and trade policies prevented economic catastrophe.
In his remarks, Trump linked McDonald’s value deals to broader disinflation, citing falling prices for items such as eggs and dairy and pointing to the chain’s national footprint as a barometer of how ordinary Americans are faring. He framed the return of cheaper meal bundles as evidence that companies are responding to his push on affordability, even as he faces voter anger over stubbornly high rents, grocery bills and healthcare costs.
Reality check: Corporate strain and consumer pain
Economists and industry executives paint a more complicated picture. McDonald’s itself is effectively subsidising the value meals, sharing the cost of the discounts with franchisees at an estimated hit of around $15 million, in an effort to win back budget-conscious customers who have been trading down or cutting back on eating out. Beef prices are still up double digits year-on-year, and the US Consumer Price Index shows overall inflation near 3 percent, above the Federal Reserve’s target and well above pre-pandemic norms.
That tension has become a political headache. Polls show that despite easing headline inflation, many Americans still feel squeezed, and Democrats have gained traction by making cost-of-living issues central to their messaging. Trump has tried to counter by scrapping some food-related tariffs, floating 50-year mortgages and proposing $2,000 rebates to lower- and middle-income households funded by tariff revenue, though such payments would need congressional approval and face legal questions.
For now, the McDonald’s summit suggests that Trump sees cultural symbols and small, highly visible price moves as a way to argue that relief is already on the way, even as the broader affordability debate remains far from settled.
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