Vancouver/Washington — The daughter of Chinese tech giant Huawei’s founder has been arrested in Canada and is facing extradition to the US, dealing a blow to hopes of any easing of Sino-US trade tensions and rocking global stock markets. The shock arrest of Meng Wanzhou, who is also Huawei Technologies’ CFO, is riling authorities in Beijing and raises fresh doubts over a 90-day truce on trade struck between Presidents Donald Trump and Xi Jinping on the day she was detained. The arrest is related to violations of US sanctions, a person familiar with the matter said. Reuters was unable to determine the precise nature of the violations. The arrest and any potential sanctions on the world’s second-biggest smartphone maker could have major repercussions on the global technology supply chain. Shares in Asian suppliers to Huawei, which also counts Qualcomm and Intel among its major suppliers, tumbled on Thursday. Meng, one of the vice-chairs on the company’s board and the daughter of compa...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now