Pres. Harry Truman issues order for government control of steel industry

The video discusses a major crisis in the steel industry, highlighting a significant labor-management dispute that led to the cooling of furnaces and inactivity in a multi-billion dollar industry. With 650,000 workers affected, the union sought raises while management demanded price increases. The government's wage stabilization board proposed a settlement, but a million tons of steel were already lost. As the strike loomed, the president announced the government's seizure of steel mills to prevent shutdown, directing officials to negotiate a resolution.

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