A Canadian judge ruled that the U.S. met a key legal test to seek the extradition of a senior Huawei Technologies Co. executive who is at the center of a fight between Washington and Beijing over the giant telecom-equipment maker.

The decision released Wednesday marks the first major court ruling on the fate of Huawei finance chief Meng Wanzhou. Ms. Meng, 48, is the daughter of Huawei founder Ren Zhengfei and has been detained in Vancouver on bail since she was arrested at the city’s airport in December 2018.

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