China Targets U.S. Biotech Firm in Broadening Blacklist
Published On Mar 4, 2025, 3:51 AM
The article reports that China has banned Illumina, a leading American biotechnology company known for gene-sequencing machines, from importing its products into China. This action comes as part of China's retaliatory measures against the U.S., amidst ongoing trade tensions exacerbated by tariffs imposed by the Trump administration. Illumina relies on China for approximately 7% of its sales, making this ban a significant blow to its business. In addition to Illumina, China has targeted other U.S. companies, indicating a broader strategy of using trade restrictions as a means of political leverage.
Stock Forecasts
ILMN
Negative
Illumina's significant reliance on the Chinese market means that this ban could lead to a decline in its revenue and affect investor confidence. The ongoing trade tensions with China may also adversely impact its stock performance in the near future.
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