Canada dumps Huawei. Apple previews new mixed-reality headset. US dollar posts biggest drop since 2020. Here’s what you need to know today.
Canada has joined its closest intelligence allies in banning Huawei and ZTE gear from fifth-generation wireless networks, citing a threat to national security. Firms that already have the Chinese equipment installed will have to remove it by the end of 2027. The ban will almost certainly stoke tensions between the two countries. Meanwhile, China’s top diplomat has again warned the US over its support for Taiwan, saying that if the White House goes “further and further down the wrong road, it will certainly lead to a dangerous situation.” And “the Quad” — an informal group that brings together the US, Japan, India and Australia in an effort to counter China’s growing power — is gaining momentum in another blow to Beijing. Get more on that here.