Huawei global chief financial officer in Vancouver arrested

Huawei’s global chief financial officer in Vancouver, Canada was arrested and is facing extradition to the United States, this according to information from the Canada Department of Justice.

The arrest of Meng Wanzhou, the daughter of Chinese tech giant Huawei’s founder has dealt a big blow to hopes of any easing of Sino-U.S. trade tensions and rocking global stock markets.

The arrest is not going down well with Beijing authorities 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.

According to reports out of the Canadian media the arrest is related to violations of U.S. sanctions, a person familiar with the matter said.

The arrest and any potential sanctions on the world’s second biggest smartphone maker could have major repercussions on the global technology supply chain.

Meng was arrested on December 1 at the request of U.S. authorities and a court hearing has been set for today, a Canadian Justice Department spokesman said.