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Photo: Omar Marques/SOPA Images/LightRocket via Getty Images

Huawei chief financial officer Wanzhou Meng is facing extradition to the United States after being arrested in Canada on suspicion of violating U.S. sanctions on Iran, the Globe and Mail reports.

Why it matters: A court hearing has been set for Friday. If Meng is extradited, it will mark the first time a Huawei official will face U.S. authorities.

The backdrop: Chinese phone makers Huawei and ZTE have been suspected of repeatedly violating U.S. sanctions on Iran and North Korea. In July, President Trump reversed a ban on American companies doing business with ZTE in order to pave the way for trade talks with Chinese President Xi Jinping.

Worth noting: Meng was arrested on Dec. 1 — the same day Trump and Xi negotiated a temporary ceasefire in the U.S.-China trade war.

Our thought bubble, via Axios contributor Bill Bishop: This move can not be overstated. If the U.S. says Huawei violated Iran sanctions, like ZTE did, a ZTE-like ban for U.S. suppliers to Huawei is not impossible. It may not go that far, but expect investors to shoot first Thursday and dump shares of big Huawei suppliers, as they did with ZTE.

Go deeper: After Huawei arrest, experts say China could retaliate

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: CDC director defends agency's response to pandemic — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Biden readies massive shifts in policy for his first days in office.
  3. Vaccine: Fauci: 100 million doses in 100 days is "absolutely" doable.
  4. Economy: Unemployment filings explode again.
  5. Tech: Kids' screen time sees a big increase.
  6. World: WHO team arrives in China to investigate pandemic origins.
Dave Lawler, author of World
3 hours ago - World

Alexey Navalny detained after landing back in Moscow

Navalny and his wife shortly before he was detained. Photo: Kirill Kudryavtsev/AFP via Getty

Russian opposition leader Alexey Navalny was detained upon his return to Moscow on Sunday, which came five months after he was poisoned with the nerve agent Novichok. He returned despite being warned that he would be arrested.

The latest: Navalny was stopped at a customs checkpoint and led away alone by officers. He appeared to hug his wife goodbye, and his spokesman reports that his lawyer was not allowed to accompany him.

Mike Allen, author of AM
5 hours ago - Politics & Policy

Biden's "overwhelming force" doctrine

President-elect Biden arrives to introduce his science team in Wilmington yesterday. Photo: Kevin Lamarque/Reuters

President-elect Biden has ordered up a shock-and-awe campaign for his first days in office to signal, as dramatically as possible, the radical shift coming to America and global affairs, his advisers tell us. 

The plan, Part 1 ... Biden, as detailed in a "First Ten Days" memo from incoming chief of staff Ron Klain, plans to unleash executive orders, federal powers and speeches to shift to a stark, national plan for "100 million shots" in three months.