Earlier this month Huawei CFO Meng Wanzhou was arrested in Canada pursuant to an arrest warrant issued by the U.S. government. Meng was accused of violating U.S. sanctions against Iran by tricking banks into helping Huawei do business with Iran. This is not the first time a Chinese company has run afoul of U.S. sanctions on trade with Iran. Two years ago the U.S. accused ZTE of similar violations and was on the verge of effectively putting ZTE out of business before an agreement between the governments helped bring resolution to that matter. President Donald Trump has once again indicated he may be willing to use a Chinese company – with Meng the proxy for that company, Huawei – as a bargaining chip in the ongoing trade dispute between the two countries.
For Meng, while she awaits extradition to the U.S., her legal team managed to convince the courts to let her out on bail despite a request from the U.S. that no bail be set. Sources indicate Meng has agreed to surrender her passport, wear a GPS tracker, and have a security team with her at all times when she leaves her house. She will also be subject to random, unannounced visits to her home by the police to verify her presence.
China and the U.S. are currently engaged in a trade war with escalating and expanding tariffs being levied as both countries try to protect their own economies. Trump said a deal involving Meng and her possible release could be on the table in those negotiations if it would help with a deal or serve some national security interest. In the midst of harsh words from China's Vice Foreign Minister Le Yucheng, Canada also found themselves threatened with “grave consequences” due to their involvement in the arrest.
source: phoneArena
