*By Justin Chermol and Carlo Versano*
The arrest of Huawei CFO Meng Wanzhou was an "enforcement action, not a trade-related action," according to Commerce Secretary Wilbur Ross.
Ross told Cheddar's Megan Pratz that the arrest of Meng in Vancouver was a response to her flouting of sanctions ー and not a retaliatory strike or warning shot against a major Chinese telecom corporation. Asked by Cheddar whether Meng's charges would affect trade negotiations between the U.S. and China, he replied: "Doesn't seem to have so far."
When asked by Cheddar if China also viewed Meng's arrest as an enforcement action, Ross said: "So far, they've said that."
The arrest of the Huawei CFO occurred on December 1, the same day President Trump and Chinese President Xi Jinping agreed to a 90-day trade truce on tariffs. Since then, the arrest has thrown a wrench into the delicate negotiations between the two world superpowers.
While Ross said the arrest should not affect trade negotiations, Trump has suggested otherwise.
In an interview with [Reuters](https://www.reuters.com/article/us-usa-trump/trump-says-would-intervene-in-arrest-of-chinese-executive-idUSKBN1OB01P), Trump said he would consider intervening with the U.S. Justice Department to influence the case if he thought it would help talks with China. "If I think it’s good for what will be certainly the largest trade deal ever made ... what’s good for national security – I would certainly intervene," he said.
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Americans picked up their spending from October to November as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying.
The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
Mortgage rates have dropped below 7% for the first time since the middle of August.
Taylor Swift grossed nearly $2 billion this year, according to Billboard.
A study from US News and World Report has found the most affordable place to retire is in Ohio.
Millions of households could see higher internet costs next year as the affordable connectivity program could end.
Viveca Chow, NYC lifestyle expert, spoke with Cheddar News to provide tips on how to have some festive fun in the city on a budget.
Apple announced that it's releasing an iPhone security update to prevent attackers from acquiring users' private passcodes.
As the new year approaches, many people are looking to find a job with a higher salary or are planning to ask their current boss for a raise. Taliya Bashani, real estate attorney and negotiation expert, joined Cheddar News to provide tips on how to properly and better negotiate better financial terms.
