The rile is high because of the shocking arrest of Meng Wanzhou, who is also Huawei Technologies Co Ltd’s chief financial officer. Authorities in Beijing raises fresh doubts over a 90-day truce on trade struck between Presidents Donald Trump and Xi Jinping on the day she was detained.
Canada has apprehended Huawei’s global chief financial officer in Vancouver, where she is facing expulsion to the United States. Meng Wanzhou, who is one of the vice chairs on the Chinese technology company’s board and the daughter of company founder Ren Zhengfei, was arrested on December 1 when she was transferring flights. As the arrest suspects on violating US sanctions against Iran, reported by Canadian officials.
Huawei confirmed the arrest in a statement and said that it has been provided little information about the charges, adding that it was “not aware of any wrongdoing by Ms. Meng.” The U.S. authorities have been inquiring Huawei since 2016 for allegedly shipping their products to countries like Iran and others in violation of US export and sanctions laws as reported by certain reliable sources.
Huawei, one of the world’s largest makers of telecommunications network equipment said it complies with all laws and rules where it operates, including export controls and sanctions of the United Nations, the US and European Union. It said in a statement that Meng had been “temporarily detained” and faced unspecified allegations” in the Eastern District of New York.
The shocking arrest comes just days after President Donald Trump and President Xi Jinping held a meeting in Argentina where they agreed to steps to resolve the ongoing trade war between the world’s two largest economies. US stock futures toppled, following the Asian markets right after the news of the arrest broke.