This action has spooked the American stock market and alarmed China which has called for the immediate release of Huawei Technologies chief financial officer, Meng Wanzhou….
For some of us?
This would appear to be a Trump admin move to level more pressure on China in trade negotiations ….
Iran is also a backdrop in this…
Huawei’s chief financial officer, Meng Wanzhou, faces possible extradition to the United States, according to Canadian authorities. The Globe and Mail newspaper, citing law enforcement sources, said she is suspected of trying to evade U.S. trade curbs on Iran.
The timing is awkward following the announcement of a U.S.-Chinese cease-fire in a tariff war over Beijing’s technology policy. Meng was detained in Vancouver on Saturday, the day Presidents Donald Trump and Xi Jinping met in Argentina and announced their deal.
Stock markets tumbled on the news, fearing renewed U.S.-Chinese tensions that threaten global economic growth. Hong Kong’s Hang Seng lost 2.5 percent and the DAX in Germany sank 1.8 percent.
A Chinese government statement said Meng broke no U.S. or Canadian laws and demanded Canada “immediately correct the mistake” and release her.
Beijing asked Washington and Ottawa to explain the reason for Meng’s arrest, said a foreign ministry spokesman, Geng Shuang. He said arresting her without that violated her human rights.
But the Ministry of Commerce signaled Beijing wants to avoid disrupting progress toward settling a dispute with Washington over technology policy that has led them to raise tariffs on billions of dollars of each other’s goods….
Note….
America is not the only country not happy with the Huawei Technologies….
But….THIS move by the US Justice Dept. is usual….
If this action would have been taken against a Russian national?
One might witness the Russian’s quickly reciprocating with the detention of an American business person….
Meng Wanzhou Update…
A judge in Canada has granted bail to a top executive of the Chinese technology giant Huawei, according to multiple media reports Tuesday.
Meng Wanzhou, the tech firm’s chief financial officer (CFO), was arrested earlier this month by Canadian authorities at the request of the U.S.
Meng has been accused of violating trade sanctions against Iran.
According to The Star Vancouver, she will remain in Vancouver after being released on bail of $10 million in Canadian dollars ($7.5 million USD) while she awaits proceedings to extradite her to the U.S.
Justice William Ehrcke of the British Columbia Supreme Court agreed to have Meng released after her husband, along with four former colleagues and friends, said they would pay the bail amount in cash, according to Bloomberg….
More…
Is Trump admitting that the arrest was a negotiating move?
President Trump said Tuesday he would intervene in the case involving a top Chinese technology executive if it would help close a trade deal with the country.
Trump, who made the comments in an interview with Reuters, also said he would consider intervening if it were in the national security interests of the U.S.
“Whatever’s good for this country, I would do,” he said. “If I think it’s good for what will be certainly the largest trade deal ever made – which is a very important thing – what’s good for national security – I would certainly intervene if I thought it was necessary.”…
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