The US has filed criminal charges against the Chinese telecom company Huawei and its chief financial officer, Meng Wanzhou, accusing the company of stealing American technology and breaking US sanctions against Iran.

Matthew Whitaker, acting attorney-general, on Monday announced the action against the world’s biggest telecoms equipment maker, in a move that threatens to derail both US-China trade talks and Huawei’s business around the world. If convicted, Ms Meng could face prison time.

Mr Whitaker told a press conference: “These are very serious actions by a company that appears to be using corporate espionage and sanctions violating not only to enhance their bottom line, but also to compete in the world economy. This is something the United States will not stand for.”