🚀 ProPicks AI Hits +34.9% Return!Read Now

Mnuchin says Huawei case 'separate' from U.S.-China trade talks

Published 01/29/2019, 09:19 AM
© Reuters. FILE PHOTO: A man holds a sign outside of the B.C. Supreme Court bail hearing of Huawei CFO Meng Wanzhou, who is being held on an extradition warrant in Vancouver

WASHINGTON (Reuters) - U.S. Treasury Secretary Steve Mnuchin said on Tuesday he expected to see significant progress in trade talks with Chinese officials this week and that U.S. charges against telecommunications giant Huawei Technologies Co Ltd were a separate issue.

"Those are separate issues, and that's a separate dialogue," Mnuchin said in an interview with Fox Business Network. "So those are not part of trade discussions. Forced technology issues are part of trade discussions, but any issues as it relates to violations of U.S. law or U.S. sanctions are going through a separate track."

China's Vice Premier Liu He is leading a delegation for high-level trade and economic talks in Washington this week, including a meeting with U.S. President Donald Trump.

On Monday, the United States announced criminal charges against Huawei's Chief Financial Officer Meng Wanzhou and the Chinese technology firm. But Mnuchin said he did not expect the issue to be part of the economic talks.

Meng, who is the daughter of Huawei's founder, was arrested in Canada in December and is fighting extradition to the United States.

Mnuchin said the U.S. security concerns raised by the Huawei case were separate from the conversation on trade and forced technology.

"There are two different issues. One is an issue of state subsidies" regarding Beijing's subsidies, he said. The other, he added, was a national security issue focused on U.S. infrastructure and cybersecurity.

© Reuters. FILE PHOTO: A man holds a sign outside of the B.C. Supreme Court bail hearing of Huawei CFO Meng Wanzhou, who is being held on an extradition warrant in Vancouver

"These are separate issues and shouldn't be confused," Mnuchin said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.