“News neutrality by unbiased coverage”
One News Page
> >

Huawei arrest threatens trade war truce

Video Credit: Reuters Studio - Duration: 01:43s - Published < > Embed
Huawei arrest threatens trade war truce

Huawei arrest threatens trade war truce

The daughter of Chinese tech giant Huawei's founder has been arrested in Canada and is facing extradition to the United States, threatening the easing of Sino-U.S. trade tensions and rocking global stock markets.

Michelle Hennessy reports.


Huawei arrest threatens trade war truce

Huawei's CFO has been arrested in Canada, at the request of U.S. authorities.

Meng Wanzhou is also the daughter of the Chinese tech giant's founder.

Canadian officials say she was arrested on Saturday (December 1), the same day as China and the U.S. signed a temporary trade war truce.

Her arrest now throwing the ceasefire into doubt.

A source says the arrest is tied to violations of U.S. sanctions but Reuters was unable to verify details of the breach.

The shock arrest only became public on Wednesday (December 5) and drew strong condemnation from Chinese state media the editor of the Global Times tweeting: "The U.S. can't beat Huawei in the market.

Don't act like a despicable rogue." Huawei is the world's second-biggest smartphone maker and a key player in China's push to develop technology, from chips to 5G networks.

Sources told Reuters in April that U.S. authorities have been probing Huawei for allegedly shipping products that originate in the U.S. to Iran.

Huawei said in a statement it was not aware of any wrongdoing by Meng The U.S. Justice Department declined to comment on Wednesday.

Meng's arrest and any potential sanctions could send major shockwaves through the world's technology supply chain.

It's already rocked global stock markets Thursday (December 6), sparking a sell-off that dragged down shares in Japan, Hong Kong, and China.

Shares in Asian suppliers to Huawei were hard hit.

The company also counts Qualcomm and Intel among its major suppliers.

China's embassy in Canada said it resolutely opposed Meng's arrest and called for her release.

Canadian officials say Meng's court day has been set for Friday (December 7).

Recent related news from verified sources

China reveals that high-level trade war dialogue with US goes on as negotiators schedule January meeting

China and the United States held a vice ministerial dialogue on trade and economic issues as part of...
Credit: S.China Morning Post - Published - Asia-Pacific

The Recent Huawei Storm Explained

The Recent Huawei Storm Explainedby Stephanie Boyd - Huawei, a leading name in Chinese telecoms, has slowly grown to become one of...
Credit: One News Page Staff - Published - World

Huawei arrest a 'despicable rogue' action: Chinese media

Huawei arrest a 'despicable rogue' action: Chinese mediaBeijing (AFP) Dec 7, 2018 Chinese state-run media on Friday condemned the arrest in Canada of a...
Credit: Energy Daily - Published - Science

You Might Like

Recent related videos from verified sources

China Makes Some Trade Concessions. But More To Come [Video]China Makes Some Trade Concessions. But More To Come 00:49

WASHINGTON (Reuters) - The United States has welcomed Chinese concessions since the two declared a trade war truce in early December, but trade experts and people familiar with negotiations say Beijing..

Credit: Wochit Business - Published

China Will Stop U.S. Car Tariffs [Video]China Will Stop U.S. Car Tariffs 00:43

BEIJING/WASHINGTON -- China, as expected by the Trump administration, said it will temporarily suspend additional 25 percent tariffs on U.S.-made vehicles and auto parts starting Jan. 1, 2019,..

Credit: Wochit Business - Published

China makes first big U.S. soybean purchase since Trump-Xi truce [Video]China makes first big U.S. soybean purchase since Trump-Xi truce 01:47

China has made its first major purchases of U.S. soybeans since President Donald Trump and his Chinese counterpart Xi Jinping struck a trade war truce earlier this month, providing some relief to U.S...

Credit: Reuters Studio - Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2018 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Contact us  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest