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Huawei’s CFO Arrested at U.S. Request, Sparking Outrage in China

  • Embassy in Ottawa demands Canada, U.S. ‘rectify wrongdoings’
  • Company’s telecom equipment banned for use by U.S. government
Bloomberg business news
Why Huawei's CFO Was Arrested in Canada
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Huawei Technologies Co.’s chief financial officer was arrested in Canada over potential violations of U.S. sanctions on Iran, provoking outrage from China and complicating thorny trade negotiations just as they enter a critical juncture.

China’s embassy in Canada demanded the U.S. and its neighbor “rectify wrongdoings” and free Wanzhou Meng, who is also deputy chairwoman and the daughter of Huawei founder Ren Zhengfei. U.S. equity futures and Asian stocks slid as the episode reignited concerns about U.S.-Chinese tensions.