Commerce Secretary Wilbur Ross Says Huawei Arrest Has Nothing to Do with Trade
*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.
We may not be headed for a 2008-esque disaster, but increased geopolitical tension paired with the end of the tech boom means volatility could stick around.
The dreaded Netflix crackdown on profile sharing translated into a major boost in subscribers while the promised rate cuts seem to be a far off fantasy.
After the 2021 boom, IPO activity slowed down significantly, in part due to monetary policy – but things are getting moving again with tech-friendly companies like Iboutta and Rubrik making a public debut.
With an increasing demand for mental health services, one person wanted to change the therapy game. In 2017, CEO Alex Katz founded Two Chairs, a company that uses technology to match patients with the right therapist.
Not only is April Financial Literacy Month, it’s also the kickoff of the spring homebuying season. So now is the time to make sure you have a financial plan in place – and why it might not be wise for that to include buying your first home.
