The PATRIOT act extended the wartime powers act to apply in peacetime, and there are other more obscure authorizations that could be used. I used to work in the defense industry. It was absolutely common knowledge that the government could step in to nationalize control (though not the profits of) private industry when required. This has been done in particular when there are rare resources needed for supersonic then stealth technology during the Cold War, and uranium in the 40’s and 50’s.