Meng Wanzhou, the CFO of Huawei, was arrested in Canada at the request of the United States and will be extradited at some point in the future.
The arrest happened the same night Trump and China’s president Xi Jinping were agreeing to a 90 day trade truce.
Canada’s Justice Department cannot tell why the US sought extradition or what charges she might face, however hints from Ben Sasse, R Nebraska, indicate it might have something to do with the US sanctions against Iran.
The arrest has sent ripples through the stock markets, generally in the tech sector as futures might be less profitable with one of the world’s largest phone manufacturers potentially facing a multi-country lockout similar to what happened to ZTE a bit ago.
And other than a lot of speculation that it’s a continuation of last year’s Treasury inquiry, there’s not much to go on.[NY Times, CNN, NPR]