Meng is the daughter of Huawei's founder and CEO Ren Zhengfei, and also serves as deputy chair on Huawei's board.
The Wall Street Journal notes that USA authorities want to bring Meng to federal court in the Eastern District of NY.
The Globe and Mail reports that US law enforcement agencies allege Ms. Meng tried to evade USA trade embargoes against Iran.
A spokesman for the US Justice Department in the Eastern District of NY - which Huawei said had brought the charges - declined to comment.
He declined to say more about the case, citing a publication ban requested by Ms Meng and ordered by the courts.
However, according to the Globe and Mail, she was arrested on suspicion she violated USA trade sanctions against Iran. Meng...to face unspecified charges in the Eastern District of NY, when she was transferring flights in Canada.
United States officials have been investigated Huawei over alleged violations of the country's sanctions on Iran and are seeking to extradite Meng.
Asked about the report that Huawei was under investigation, Hua said in April, "We hope the USA will refrain from taking actions that could further undermine investor confidence in the USA business environment and harm its domestic economy and normal, open, transparent and win-win global trade". "Americans are grateful that our Canadian partners have arrested the Chief Financial Officer of a giant Chinese telecom company for breaking USA sanctions against Iran".
One of Huawei's top executives was arrested in Canada today, but the move was reportedly made at the request of the U.S. government.
On its website, Huawei bills itself as "a leading global provider of information and communications technology (ICT) infrastructure and smart devices, with integrated solutions across four key domains - telecom networks, IT, smart devices, and cloud services".
The US later replaced the ban with a fine and governance changes.
BT was also removing Huawei equipment from its existing 3G and 4G networks.
This November, New Zealand's government banned its major telecommunications company Spark from using Huawei's equipment, which is described to "have a serious national security risk".