Canada arrests Chinese executive at U.S. request

The Chinese Foreign Ministry on Thursday demanded that Canadian authorities release the executive of a top Chinese telecom company after she was detained at the request of the United States. Meng Wanzhou, chief financial officer of Huawei, was changing flights in Vancouver, British Columbia, when Canadian authorities detained her over “unspecified charges” she faces in New York, the company said in a statement. Meng could be extradited to the United States. China called on the two countries to reveal the reason behind her arrest. U.S. Sen. Ben Sasse, R-Neb., a member of the Senate Armed Services and Banking committees, lauded Meng’s apprehension for “breaking U.S. sanctions in Iran.”

Meng is also the deputy chairman of Huawei and daughter of its founder, Ren Zhengfei. Huawei is the largest global supplier of network gear used by phone and internet companies and has been the target of deepening U.S. security concerns. Meng’s arrest occurred on the same day the United States and China agreed to a 90-day truce in the escalating trade war. Chinese Commerce Ministry spokesman Gao Feng on Thursday said his country will follow through with the tariff cease-fire and indicated the first trade talks will focus on farm goods, energy, and automobiles. World stocks took a tumble after news of Meng’s arrest. The Dow Jones Industrial Average fell by more than 450 points Thursday morning.