John Bolton knew of Huawei arrest before Trump-Xi dinner

Huawei CFO Meng Wanzhou

The arrest of Meng Wanzhou, a top executive at China's Huawei Technologies Co Ltd and daughter of the founder and CEO, jolted the global business community on Thursday and raised fears that a truce in the U.S.

China's Ministry of Foreign Affairs both Canada and the U.S.to release Meng.

Thus far, China has demanded that Canada and the US drop the case and release Meng immediately, accusing the North American nations of harming her human rights.

The comments come after China's embassy in Ottawa issued a statement Wednesday calling Meng's arrest a serious violation of human rights.

A clerk at the B.C. Supreme Court says Meng appeared in court Wednesday and a bail hearing is scheduled for Friday.

"At the request of the USA side, the Canadian side arrested a Chinese citizen not violating any American or Canadian law", the Chinese Embassy in Canada said on Thursday.

Sources told Reuters in April that U.S. authorities have been probing Huawei, one of the world's largest makers of telecommunications network equipment, since at least 2016 for allegedly shipping US-origin products to Iran and other countries in violation of USA export and sanctions laws.

Chinese authorities have demanded the immediate release of Ms Meng and say she has done nothing wrong.

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"If I was an American tech executive, I wouldn't travel to China this week", warned Lewis, who labeled Huawei "one of the Chinese government's pet companies" and charged the communist country's leaders wouldn't be afraid to "take hostages".

The ban almost destroyed the Chinese tech company, forcing it to cease major operations in May.

"Huawei is China's most powerful, most prized company", said one USA lobbyist who spoke on the condition of anonymity to discuss sensitive matters.

This year has also seen the eruption of trade tensions between the US and China.

The US State Department has for months classified China as an "increased caution" risk for American travelers, particularly businesspeople.

In 2012, the House of Representatives released a report warning Huawei poses a national security threat to the US, and American companies and its government should avoid doing business with the company.

Huawei issued a statement saying Meng, also the company's deputy chairman and the daughter of company founder Ren Zhengfei, was detained while changing flights in Canada, in order to face "unspecified charges" in NY.

US stock futures and Asian shares tumbled as news of the arrest heightened the sense a major collision was brewing between the world's two largest economic powers, not just over tariffs but also over technological hegemony.

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Further speaking on the issue, Huawei spokesperson said, "The company has been provided very little information regarding the charges and is not aware of any wrongdoing by Ms. Meng".

The arrest took place on the same day that the United States and Chinese presidents, Donald Trump and Xi Jinping, had met for a long-awaited summit in Buenos Aires and spoken of easing an intensifying trade row.

Last year, Federal Bureau of Investigation agents in Miami arrested Volkswagen executive Oliver Schmidt, who was charged with conspiracy to defraud the U.S.

"This reminds the Chinese, and ourselves, that we are part of an global order backed by the U.S". Mr Trump was slated to raise additional tariffs on $200bn of Chinese goods from 10 per cent to 25 per cent on 1 January.

Huawei, for its part, has consistently denied accusations of spying, and responded to the arrest of Meng by saying it complies with "all applicable laws and regulations" where it operates. The escalating trade war is threatening world economic growth and has set global investors on edge.

Despite that, her arrest is unlikely to derail trade talks, said Willy Lam, a politics specialist at the Chinese University of Hong Kong.

"It could jeopardize all of this", Sui said of the arrest.

Huawei, now the world's second-largest smartphone manufacturer, is among China's most internationally known technology firms.

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The charges remain unknown due to a court restriction but the United States has been investigating Huawei over possible violation of Iran sanctions.

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