Afternoon Coffee: US Bans Goods from China Made Using ‘Convict Labor,’ Factory Orders Fall in February

Tomasz-Zajda/Adobe Stock Tomasz-Zajda/Adobe Stock

The U.S. banned imports of rayon manufactured by China’s Tangshan Sanyou Group after the U.S. Customs and Border Protection obtained information showing the company uses convict labor to make its products. Products from the Tangshan Sanyou Group will be held at U.S. ports of entry.

U.S. factory orders slid 1.7% in February as demand fell, according to data from the Commerce Department. While the drop was expected, it comes after a 1.2% increase in factory orders during January.

Tesla reportedly received 180,000 orders for the electric carmaker’s Model 3 vehicle in 24 hours of its release. Tesla Chief Executive Elon Musk said the orders generated a $7.5 billion backlog in one day.

Alaska Air bought Virgin America for $2.6 billion. The news comes just days after Virgin debuted a new logo in an April Fool’s Day joke.

 

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