The arrest and possible extradition of a Chinese business executive highlights ongoing trade tensions between the U. S. and China that national security
The arrest and possible extradition of a Chinese business executive highlights ongoing trade tensions between the U. S. and China that national security adviser John Bolton says will be a major focus of negotiations over the next three months.
Those tensions contributed to another roller coaster day on Wall Street. The Dow Jones Industrial Average was down more than 700 points on Thursday, but recovered to close down less than 80 points. That followed a 799 point drop in the Dow on Tuesday.
Meng Wanzhou, chief financial officer at China’s Huawei Technologies, was arrested in Canada Saturday at the request of U. S. authorities and faces possible extradition to the United States. In an interview with NPR’s Steve Inskeep, Bolton declined to address the reasons for her arrest, but said the U. S. has long been concerned with what it views as her company’s theft of technological know-how.
“You should not turn a blind eye when states, as a matter of national policy, are stealing intellectual property from their competitors,” Bolton told NPR’s Morning Edition . “Huawei is one company we’ve been concerned about. There are others as well.”
Huawei is one of the world’s leading producers of smartphones and telecommunications equipment. Meng is the daughter of the company’s founder. She’s expected to appear for a bail hearing in Vancouver on Friday. The Justice Department also declined to comment on the reason for Meng’s arrest.
Cease-fire?
She was detained the same day President Trump and Chinese President Xi Jinping held a working dinner in Buenos Aires, Argentina.
The two leaders emerged from that meeting signaling a cease-fire in their trade war. Trump agreed to hold off on additional tariffs on Chinese imports for 90 days while negotiations continued over China’s trade practices.
