As a result of the famous 1962 confrontation between President Kennedy and the steel industry,U.S.Steel ultimately
A) won the right to set prices without government interference.
B) lost a major share of its market to other industry rivals.
C) became the new industry price leader by setting voluntary limits on annual price increases.
D) had to rescind price increases when other steel producers failed to follow its lead.
E) was divided into three independent steel companies.

Question

Quizplus · Accepted Answer

The 1962 confrontation led to U.S. Steel having to rescind its price increases after other steel producers did not follow its lead, showcasing the power of collective industry action and government influence.

As a Result of the Famous 1962 Confrontation Between President