China's Huawei finance chief arrested in Canada, faces extradition to US

Huawei global CFO arrested in Canada China protests urges release

Huawei Technologies, launched in 1987 in Shenzhen China, has been the largest telecommunication equipment producer in the world since 2012.

Chinese officials on Thursday blasted Meng's arrest - but experts warn more forceful actions, including the possibility of tit-for-tat detentions of high-profile citizens, could be coming.

USA authorities have been probing Huawei since at least 2016 for allegedly shipping US -origin products to Iran and other countries in violation of USA export and sanctions laws, sources told Reuters in April.

US national security adviser John Bolton told USA media that he knew of the pending arrest in advance. -Chinese cease-fire in a trade war that has its roots in Beijing's technology policy.

"The company believes the Canadian and USA legal systems will ultimately reach a just conclusion".

The arrest of Meng Wanzhou, who is suspected of trying to evade US trade curbs on Iran, could further complicate a trade standoff between Beijing and Washington.

The detention of Meng Wanzhou, Huawei's chief financial officer, comes after American authorities reportedly launched an investigation into suspected Iran sanctions violations by Huawei, which was already under scrutiny by U.S. intelligence officials who deemed the company a national security threat. She faces possible extradition to the United States.

In 2012, the House of Representatives released a report warning Huawei poses a national security threat to the USA, and American companies and its government should avoid doing business with the company.

'As there is a publication ban in effect, we can not provide any further detail at this time.

Asked whether he had spoken to the Chinese premier or the ambassador, Trudeau said he has had no conversations with worldwide counterparts about the case.

China is demanding Canada immediately free a top executive of a giant telecom firm arrested last Saturday on a US warrant.

Canadian Prime Minister Justin Trudeau on Thursday said his government had no involvement in the arrest of a top executive from Chinese technology giant Huawei, who was detained at Vancouver airport.

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Ye Tan, an independent Chinese economist, said Meng's arrest could be used as a "bargaining chip" in the trade talks.

The ministry also said the USA trade talks should continue as a 90-day pause on new tariffs between the United States and China enters its second week.

Perhaps the most striking detail of the arrest of Huawei executive Meng Wanzhou in Canada was that it took place on the same day that leaders from the USA and China were engaged in delicate trade talks in Buenos Aires.

"We were advised by them with a few days' notice that this was in the works".

China has demanded Canada release a Huawei Technologies executive who was arrested in a case that adds to technology tensions with Washington and threatens to complicate trade talks.

Meng is Huawei's chief financial officer and the daughter of the company's founder. "Huawei complies with all applicable laws and regulations where it operates, including applicable export control and sanction laws".

As a result, some of the closest allies of the USA, such as the U.K., Australia and New Zealand have banned or restricted Huawei on its 5G networks.

"Sometimes Chinese aggression is explicitly state-sponsored and sometimes it's laundered through many of Beijing's so-called "private" sector entities that are in bed with Xi's communist party", Sasse said.

Shanghai's market slid about 1.7%, while USA stock futures were pointing down more than 1%.

Likewise, Rod Hunter, an worldwide economic official in former president George W. Bush's White House and a partner at law firm Baker McKenzie, said, "I'm skeptical that the Chinese are going to want to say "uncle". News of Meng's arrest provoked an immediate protest from the Chinese embassy in Canada, demanding the USA and its neighbor "rectify wrongdoings" and free Meng.

"It really speaks to the depth of the Chinese concern in their economies and their desire to get the US-China relationship back on a more even keel", said Elizabeth Economy, a senior fellow at the Council on Foreign Relations. BT, a British telecommunications company, announced this week that it's not using Huawei's equipment in its 5G network and that it's removing the company's equipment from key areas of its 4G network. Later, other sources claimed that the arrest had been made to investigate whether Huawei violated United States sanctions on Iran or not.

Huawei, for its part, has denied sharing information with the Chinese government, as has ZTE.

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