The indictments allege that the company stole intellectual property from T-Mobile and also violated U.S. sanction orders, Whitaker said. Administration officials also said they are in the process of formally requesting the extradition of Huawei CFO Meng Wanzhou, who was arrested in Vancouver, Canada, late last year at the request of American authorities. The request will be filed by Tuesday.
China appears to be easing its high-tech industrial development push, dubbed "Made in China 2025," which has long irked the United States, amid talks between the two countries to reduce trade tensions, according to new guidance to local governments. Beijing has dropped references to "Made in China 2025," an initiative intended to help China catch up with global rivals in sophisticated technologies and promoted aggressively since 2015.
Meng Wanzhou, one of Huawei’s top executives and the eldest daughter of the company’s founder/CEO, will be released on bail and kept under tight monitoring over bank fraud allegations, a Canadian court ruled today. The Star Vancouver reported the decision Tuesday, which comes after a growing wave of Chinese nationalist sentiment brought protesters out to demand Meng’s release and even led Vancouver residents offer up their homes to prove Meng wouldn’t be a flight risk.
Chinese officials have long engaged in a propaganda campaign to portray themselves as the aggrieved party and Trump as the unfair, protectionist aggressor who is inappropriately intruding on China’s domestic policy prerogatives. But while it is to be expected that the Chinese would attempt to spin their egregious innovation mercantilism this way, it’s disappointing that many commentators and opinion leaders in the West seem to have fallen for the ruse.
The shock arrest of Meng Wanzhou, who is also Huawei Technologies' chief financial officer, 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.
Now, after three rounds of U.S. tariffs against Chinese imports -- and a fourth looming early next year -- Beijing, at last, appears to be paying attention. Internally, voices within the Chinese Communist Party are calling for a negotiated settlement, albeit one that allows Chinese President Xi Jinping to save face.
U.S.-China trade tensions are poised to come to a head this week when President Trump meets with Chinese President Xi Jinping, and a major component of those talks will likely focus on intellectual property (IP) theft. Federal officials have repeatedly accused Chinese hackers of stealing trade secrets, saying those actions are the underlying reason for billions of dollars worth of tariffs on imports from China.
The Trump administration has received backing from Congress in taking a harder line over protecting critical U.S. technology from foreign threats. In August, President Donald Trump signed a law to strengthen a panel that reviews investments from abroad for national security risks, which was widely viewed as a way to curtail Chinese investment in the U.S.
China will lower import tariffs and continue to broaden market access, President Xi Jinping said on Monday at the opening of a week-long trade expo seen as an attempt by Beijing to counter mounting criticism of its trade and business practices. Xi also promised to accelerate opening of the education, telecommunications and cultural sectors, while protecting foreign companies' interests and enhancing punitive enforcement for infractions of intellectual property rights.
China’s state-sponsored push to dominate technologies of the future is one of the biggest stumbling blocks to prospects for resolution to the U.S. trade war. Officials from both sides are pessimistic about chances for a breakthrough when Donald Trump and Xi Jinping meet on the sidelines of the Group of 20 summit in Buenos Aires on Nov. 30-Dec. 1.