President Kennedy told Americans that he was aware that the price of steel per ton was very high. He knew that America was in a bad time in history with the problems with Berlin and Southeast Asia. He explained that if the price of steel goes up, then the price of homes, cars, and appliances for American families would increase. There was no justification for the increase in steel prices. Raw materials for steel scrap and coal had been declining and the profit rate was expected to rise later that year.
