Economy

China and U.S. discuss trade talks timetable

China and U.S. discuss trade talks timetable

During the hearing, Lionsgate Risk Management Group CEO Scot Filer told the B.C. Supreme Court that, under his proposal, Ms. Meng would give them a weekly itinerary of her activities and one of the two people watching her could stop her at any time from going places they deemed unsafe or at risk of helping her flee.

"The actions of the USA have seriously violated the legitimate and legitimate rights and interests of Chinese citizens and are extremely bad in nature", the South China Morning Post quoted China's Vice Foreign Minister Le Yucheng's statement to Branstad.

The case is the latest chapter in an ongoing trade war between China and the US.

Her family also sought leave to remain in Vancouver if she was granted bail, according to the court documents, with her husband saying he plans to bring the couple's daughter to Vancouver to attend school during the trial. It also says that Meng and Huawei misled American banks about its business dealings in Iran.

She is specifically accused of lying to bankers about the use of a covert subsidiary to sell to Iran in breach of sanctions.

Global markets are jittery about a growing clash between the world's two largest economic powers over China's huge trade surplus with the United States and Washington's claims that Beijing is stealing intellectual property and technology.

The hearing is set to resume on Tuesday after the judge failed to reach a decision.

Some small US phone companies fear they'll be forced to rip out network equipment made by Huawei Technologies Co.as tensions rise following the arrest of the Chinese gear maker's chief financial officer.

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If Canada fails to release the aggrieved Chinese citizen, it went on, "there would be grave consequences, and Canada would have to take full responsibility". The U.S. has pressured other countries to limit use of its technology, warning they could be opening themselves up to surveillance and theft of information.

Outside court, a protester said Canada is helping the United States do its "dirty work" by arresting her. If extradited and convicted, she could face sentences as long as 30 years.

David Martin, Meng's lawyer, said Meng was willing to put up assets and cash worth a total of 15 million Canadian dollars ($11.2 million) as bond and wear an ankle monitor.

"Skycom was Huawei", a Canadian prosecutor alleged on Friday.

On Tuesday, Asian equities struggled again despite a bounce in NY as investors fret over a flawless storm of issues, including fears that the arrest of Meng Wanzhou, Huawei's chief financial officer, in Canada could further inflame the China-US trade row.

The stunning arrest of Meng Wanzhou, a figure at the heart of a global race to dominate high-tech industries, has kicked up an worldwide political firestorm with Canada caught in the epicenter.

Global markets are jittery about a collision between the world's two largest economic powers over China's huge trade surplus with the USA and Washington's claims that Beijing is stealing intellectual property and technology. Tariffs on $US200 billion of those imports were scheduled to rise from 10 per cent to 25 per cent on January 1.