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President Affirms His Support for American Business

Apr. 18, 1962 - President Kennedy said today that the recent dispute with the steel industry over prices had left no residue of ill will in his Administration against American business. He declared at his news conference that the prosperity of corporations was as essential to his goals as it was to theirs. Of steel in particular, the President said that the industry’s problem was idle capacity, which economic growth rather than a price increase would cure. Using 90% of capacity instead of 60 or 70% would yield more profits than a price increase, he said.

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