China's Commerce Ministry said on Tuesday that it had put PVH Corp and Illumina on its unreliable entity list after the two companies took what it called "discriminatory measures against Chinese enterprises" and "damaged" legitimate rights and interests of Chinese companies.

Key Takeaways China's Ministry of Commerce has put PVH and Illumina on its "unreliable entity" list.The two firms are accused of taking actions that harmed Chinese companies.Companies on the unreliable entity list could face business restrictions,

Shares of PVH Corp fell as China retaliates with tariffs and places the company on its unreliable entity list due to refusal to source cotton from Xinjiang.