Huawei executive arrest clouds trade truce

Credit: Reuters Studio
Published 3 days ago - Duration: 01:12s

Huawei executive arrest clouds trade truce

The daughter of Huawei's founder and its top executive was arrested in Canada and faces extradition to the United States, stirring up fears of reigniting U.S. - China trade war.

Roselle Chen reports.


Huawei executive arrest clouds trade truce

U.S. and global stocks fell on the news of the arrest of Huawei's top executive, Meng Wanzhou.

Investors worried about fresh tensions between the United States and China over trade.

SUNY New Paltz professor, Sara Hsu, says the Chinese government sees Meng's arrest as a big insult and violation of human rights.

(SOUNDBITE) (ENGLISH) SUNY NEW PALTZ ASSOCIATE PROFESSOR & COMMENTATOR ON CHINESE ECONOMY, SARA HSU, SAYING: "This is really going to worsen the trade relationship between the U.S. and China.

And, you know, the relationship, in general, has been pretty fragile under the Trump administration.

So, I see this as something that could have a major setback on the trade negotiations, which are not really set in stone." Huawei is the world's largest telecoms equipment maker.

It's also a prominent part of the Chinese government's campaign "Made in China 2025," promoting Chinese products.

Meng is the daughter of Huawei's founder.

She also serves as the company's chief financial officer and is being groomed to become its chief executive.

The U.S requested her detention as she was changing planes in Canada on Saturday.

Sources told Reuters, her arrest is related to U.S. sanctions.

Authorities have been investigating Huawei since at least 2016 for allegedly shipping U.S.-origin products to Iran and other countries in violation of U.S. export laws.

Recent related news from verified sources

The sensational arrest of Meng has shocked global stock markets The post Huawei executive arrest threatens China-U.S. trade truce appeared first on Premium...
3 days ago • Premium Times Nigeria

China's foreign ministry called in the U.S. ambassador on Sunday to lodge a "strong protest" over the arrest in Canada of Huawei Technologies Co. Ltd.'s chief...
4 hours ago •

White House trade adviser Peter Navarro on Friday said that the U.S. -China trade truce and the recent arrest of a top Huawei Technologies Co Ltd executive "are...
2 days ago • Reuters

U.S. stock index futures fell more than 1.5 percent on Thursday, as the arrest of a top executive of Chinese tech giant Huawei for extradition to the United...
3 days ago • Reuters

Recent related videos from verified sources

A 90-day Extension On China Trade Truce 00:38
Credit: Wochit Business - Published 5 days ago 

Huawei Executive's Arrest Could Impact US-China Relations 01:04
Credit: Newsy Studio - Published 3 days ago 

Huawei executive arrest complicates China-U.S. relationship 02:37
Credit: CBS News - Published 2 days ago 

You might like