Huawei Finance Chief's Arrest Threatens To Inflame U.S.-China Tensions

Huawei Finance Chief's Arrest Threatens To Inflame U.S.-China Tensions

Huawei Finance Chief's Arrest Threatens To Inflame U.S.-China Tensions

China has offered a restrained response, only expressing public outrage over the arrest of Meng, the daughter of the founder of Huawei.

"Markets were already nervous before this arrest information came out", said David Dollar, a senior fellow in the John L. Thornton China Center at the Brookings Institution who was an economic and financial emissary to China for the Treasury Department under President Barack Obama. -Chinese cease-fire in a trade war that has its roots in Beijing's technology policy.

"So not respecting this particular arrest, but Huawei is one company we've been concerned about", he said.

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

Meng was detained by Canadian authorities in Vancouver on December 1 - the same day Mr. Trump met with China's leader.

Huawei, the biggest global supplier of network gear used by phone and internet companies, has been the target of USA security organizations.

"I can assure everyone that we are a country of an independent judiciary and the appropriate authorities took the decisions in this case without any political involvement or interference", Trudeau said. "As there is a publication ban in effect, we can not provide any further detail at this time".

"I think one of the key things is that we always have to be resilient no matter what the possible trigger could be", Scott Jones, director of the Canadian Centre for Cyber Security, told a press conference.

Meng's arrest has "potentially huge implications" for the trade war and signals the United States government is willing to get tough on Chinese companies that do business with Iran, according to Michael Every, head of Asia-Pacific research at investment bank Rabobank.

China reacted furiously Thursday after a top executive and daughter of the founder of Chinese telecom giant Huawei was arrested in Canada following a USA extradition request, threatening to rattle a trade war truce with the United States.

More news: Huawei executive arrested by Canadian officials at United States request
More news: Three dead in Iran terror attack
More news: OPEC members complaining, says Nigeria is overproducing

A Chinese statement said Meng did not break any US or Canadian laws and that Beijing expected Canada to "immediately correct the mistake" and release her from custody.

He said he was not sure whether Trump - who had trumpeted his summit with Xi as "amazing and productive" as he flew back to Washington - was also aware. Canada must be careful not to damage its relationship with China, the report continues. President Trump has agreed to postpone planned tariff hikes on Chinese goods, while China has pledged to purchase a "very substantial" amount of American produce and curb the export of deadly opioid Fentanyl to the United States in exchange.

Meng Wanzhou, Huawei's chief financial officer, has been detained in Canada and may be extradited to the USA to face charges. The Shenzhen-based company said it complies with all applicable laws and regulations where it operates "including applicable export control and sanction laws and regulations of the UN, US and European Union".

The U.S. sees Huawei and smaller Chinese tech suppliers as possible fronts for Chinese spying and as commercial competitors. Chinese technology has been a particular bugbear for the US president, who has justified imposing tariffs on Chinese imports with allegations of intellectual property theft by Chinese companies.

In London, the stock market plunged by more than three percent.

Growing tensions between the US and China, Russia, and North Korea have caused global concern.

China's embassy in Canada protested at the arrest and demanded her release.

Sources told Reuters in April that United States authorities have been probing Huawei, one of the world's largest makers of telecommunications network equipment, since at least 2016 for allegedly shipping US-origin products to Iran and other countries in violation of U.S. export and sanctions laws. The daughter of the Chinese telecommunications giant's founder was arrested Saturday in Canada on USA request, in a move that threatens to inflame U.S. "We certainly don't inform the president on every one of them".

"China tends to treat us - and we allow ourselves to be treated - as if doing a trade deal with Canada is a favour they bestow on us, when, in reality, they want access to the Canadian market", he added.

Huawei's smaller rival, ZTE (ZTCOF), provides an example of how the United States government could go further.

Recommended News

  • Infant ibuprofen recalled from Walmart and CVS over kidney damage fears

    Infant ibuprofen recalled from Walmart and CVS over kidney damage fears

    Tris Pharma, Inc.is recalling three lots of infant liquid ibuprofen sold at Walmart , CVS and Family Dollar stores. At Walmart, the recalled lots are 00717009A (expiry 02/19), 00717015A (expiry 04/19) and 00717024A (expiry 08/19).
    Donald Trump sees ‘strong signals’ as China vows action on trade

    Donald Trump sees ‘strong signals’ as China vows action on trade

    Mr Trump said this week on Twitter that Beijing had agreed to "reduce and remove" tariffs the 40% tariffs it places on USA cars. Ben Sasse, a Nebraska Republican and opponent of Trump's tariff policy, criticized the president's tweets on that basis.
    Did Travis Scott Cheat on Kylie Jenner? Photo Clue

    Did Travis Scott Cheat on Kylie Jenner? Photo Clue

    Not only did he comment on that Instagram post, but he chose to take to his own Instagram story and defend his loyalty even more. Well, it turns out that he did more than just troll the internet, he nearly ended Travis Scott and Kylie Jenner's relationship.
  • Sully the service dog visits Bush’s casket in the US Capitol

    Sully the service dog visits Bush’s casket in the US Capitol

    A national day of mourning has been declared for today to honor the life of the 41st president of the United States, George H.W. A humble hero of World War II, Mr Bush was just 20 when he survived being shot down during a bombing run over a Japanese island.
    Trump weighs putting off government shutdown after Bush's death

    Trump weighs putting off government shutdown after Bush's death

    Congressional leaders unveiled a bill on Monday that would extend government funding for two weeks beyond Friday's deadline. Trump's plans to build a wall at the US-Mexico border were well publicised throughout his presidential election campaign.
    Fury anxious  Wilder is 'running' away from a rematch

    Fury anxious Wilder is 'running' away from a rematch

    We need to give Britain the biggest fight in British boxing history and that's me and Joshua. That has always been the fight we want because he has the last belt.
  • Dad's lesson on bullying goes viral

    Dad's lesson on bullying goes viral

    Matt Cox's daughter was suspended from riding the school bus on November 30, according to Cleveland television station WEWS . Cox says he recognizes how it could be perceived but he says he had to correct her behavior.
    Huawei Nova 4 with display hole shows up in hands-on images

    Huawei Nova 4 with display hole shows up in hands-on images

    An LED flash is expected to be included below those three cameras, and those cameras will protrude on the back a bit. Both have the display camera hole in the same place, the upper-left corner of the display , for whatever reason.

    Google is shutting down Allo by March 2019

    While Allo is on the way out, Google is keeping Duo , its video-calling app, which added video messaging recently . Users will be able to export their existing conversation history from the app before the service shuts down.
  • Trump to Name State Department's Heather Nauert UN Ambassador

    Trump to Name State Department's Heather Nauert UN Ambassador

    Nauert was formerly a co-host on morning cable news show "Fox & Friends" as well as a correspondent for CBS News. President Donald Trump will nominate State Department spokesperson Heather Nauert as her replacement.
    Marcos ROJO plays in first Manchester United match against Arsenal since May

    Marcos ROJO plays in first Manchester United match against Arsenal since May

    Wolves registered their first win in seven games despite going behind to Ruben Loftus-Cheek's 18th minute opener for Chelsea. Klopp sent on Salah and Firmino soon after James Milner equalized in the 62nd, and they made an immediate impression.
    Samsung Galaxy Note 9 One UI Android Pie Update Released for India

    Samsung Galaxy Note 9 One UI Android Pie Update Released for India

    Samsung Galaxy Note 9 owners who want to try out One UI beta need to enroll their devices into the company's beta program. The new firmware for Samsung Galaxy Note 9 brings the security patches of November and of course the One UI interface.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.