Illumina shareholders received a warning shot. In response to President Trump’s initial tariff measures, the Chinese government added the maker of gene-sequencing equipment to its list of “unreliable entities.

Beijing said it is banning the U.S. biotech from [exporting gene sequencers to China](

Beijing said it would ban the U.S. biotech from [exporting gene sequencers to China](

Illumina (ILMN) said it is instituting an incremental approximately $100M cost reduction program for fiscal 2025. The company added, “These

Stifel notes that China has announced that Illumina (ILMN) is now prohibited from exporting gene sequencers to China one month after adding the

Illumina shares edge down 3.5% in premarket trading after China placed restrictions on the company as it caught itself in the country's crosshairs in response to a developing trade war. Shares were trading around $84.

Illumina will seek to cut $100 million in expenses by the end of this fiscal year as it plans to deal with a loss of revenue from China, after the country banned the importation of its DN | Illumina also lowered its annual financial forecast,

In a sign it is willing to go further in responding to President Trump’s tariffs, Beijing blocked more American companies from importing goods into China.

Canaccord lowered the firm’s price target on Illumina (ILMN) to $115 from $135 and keeps a Hold rating on the shares. The firm’s target