MS Test failing with a collection

I'm starting with MS Test and trying to run following test. I see following part gives me a fail, which is quite suprising:

    [TestMethod]
    public void EachRetailerPassedToBuilderIsReturnedInVmList()
    {
        List<string> mockRetailers = new List<string> { "Asda", "Tesco" };

        Assert.AreEqual(new List<string>{ "Asda", "Tesco"}, mockRetailers);

    }

Sorry, I'm beginner with Unit Testing. What am I doing wrong?

Result Message: Assert.AreEqual failed. Expected:.