In a move highlighting ongoing trade tensions, China has added two U.S. companies, PVH Corp. and Illumina, Inc., to its unreliable entity list, the Ministry of Commerce announced on Tuesday.
According to a statement released by the ministry, the decision comes after the two firms allegedly violated normal market trading principles. They have terminated regular trade with Chinese companies and adopted discriminatory measures, severely harming the legitimate rights and interests of Chinese companies.
\"The decision was made to maintain national sovereignty, security, and development interests,\" the statement noted, emphasizing that the measures are in accordance with relevant laws and regulations.
The unreliable entity list mechanism allows China to take corresponding measures against entities that endanger its sovereignty, security, or development interests. Specific actions against PVH Corp. and Illumina, Inc. will be taken based on relevant laws and regulations, the statement added.
PVH Corp., an American clothing company, is known for brands such as Calvin Klein and Tommy Hilfiger. Illumina, Inc. is a global leader in DNA sequencing and array-based technologies. The inclusion of these companies on the unreliable entity list could impact their operations and partnerships within China.
This development underscores the complexities of international trade relations and the importance of adhering to market principles. Businesses operating globally are closely watching the situation for potential implications on cross-border trade and collaborations.
Reference(s):
cgtn.com
