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United States accuses Huawei CFO of Iran sanctions cover-up

08 December 2018

Navarro said the arrest was the result of "the bad actions of Huawei", adding there was a "frightening" risk that the Chinese government could use the company's products for spying.

But in a sign the case might not derail the Trump-Xi truce, Beijing protested Meng's arrest but said talks with the Trump administration would go ahead.

Wanzhou Meng, arrested December 1 in Vancouver and facing possible extradition to the USA, had a bail hearing today in which it was made clear that she is looking at some serious jail time for allegedly misrepresenting to authorities the relationship between Huawei and SkyCom, which did business in Iran.

The case has roiled markets already hammered by months of rising trade tension between the world's two largest economies.

The hearing in Vancouver is the start of a long legal process in Canada that could end with Meng being sent to the stand trial.

Huawei operated Skycom as an "unofficial subsidiary", he said, adding that Skycom employees had Huawei email addresses and badges and former employees have said there was no distinction between the two companies.

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But Martin told the judge Meng is a prominent figure and she would not violate a court order if she were released.

White House trade adviser Peter Navarro has said there is no link between US-China trade negotiations and the arrest of a top executive at China's Huawei.

The case, which has prompted fury in China, has put Canada in a hard position: comply with a request from its neighbour and largest trading partner, or risk angering the country it has, for months, sought stronger ties with.

Several reporters from the USA and Canadian media organizations tweeted details of the accusations after the court lifted a publishing ban that had been in place since Meng's arrest.

The prosecutor said Meng assured USA banks that Huawei and the shell company alleged to have done business with Iran, called Skycom, were separate companies, but in fact Skycom and Huawei were one and the same. Meng is being accused of violating United States sanctions against Iran and deceiving banks to do so, and faces extradition to the US.

"We need to have our own China policy driven by our own national interest, and unfortunately we have got ourselves caught in a situation where our China policy is being much fashioned by some hardliners in Washington", Mr. Manley told CTV Question Period in an interview to be aired on Sunday.

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Mattis said, in the Indo-Pacific region, we keep our decades-old alliances strong by building new partnerships. "Mr. He is not recognizing that what he is doing is actually creating an animosity against his people, "said Mattis".

Washington and Beijing have exchanged steep tariffs on more than $300 billion in total two-way trade, locking them in a conflict that has begun to eat into profits.

It comes as heightened economic tensions between the USA and China seemed to be cooling - at least a little.

The company has appointed chairperson Liang Hua as acting chief financial officer following Ms Meng's arrest.

The arrest also stroked fears of a potential backlash on American companies operating in China.

"The threat from these companies lies in their access to critical internet backbone infrastructure", she said. -China trade relations caused stocks to sell off on Friday, with technology shares leading the decline. "If the US does what it did to ZTE, there's very little China can do to prevent Huawei from collapsing, and that's not in China's interest".

The Trump administration has tightened regulations on high-tech exports to China and made it harder for Chinese firms to invest in USA companies or to buy American technology in cutting-edge areas like robotics, artificial intelligence and virtual reality.

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Rand Paul of Kentucky, meanwhile, blamed the lack of information on the supposed "Deep State", rather than on the administration. The Senate ultimately passed that measure by a very wide margin, and debate on the resolution itself is expected to begin soon.

United States accuses Huawei CFO of Iran sanctions cover-up