A bail hearing has been set for Friday, a department spokesman told the newspaper.
"As there is a publication ban in effect, we can not provide any further detail at this time", department spokesperson Ian McLeod said in a statement to the newspaper.
In April, China appealed to Washington to avoid damaging business confidence following the Wall Street Journal report that USA authorities were investigating whether Huawei violated sanctions on Iran amid spiraling technology tensions.
Ms Meng is the daughter of Huawei's founder.
According to an official statement from a Canadian Justice Department spokesperson, the US government is seeking to extradite Meng from Canada to the United States. Meng adopted her mother's surname.
Huawei confirmed the arrest in a statement and said that it has been provided little information of the charges against Meng, adding that it was "not aware of any wrongdoing by Ms. Meng".
"The company believes the Canadian and US legal systems will ultimately reach a just conclusion".
The statement went on to say how Huawei complies with all applicable laws and regulations where it operates, "including applicable export control and sanction laws and regulations of the United Nations, US and European Union".
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Huawei is one of the world's leading makers of telecommunications network equipment.
The arrest comes as the United States has brought a number of legal cases against Chinese technology firms, with accusations such as cyber-security theft and violations of USA sanctions against Iran. Huawei has denied the links.
As of August 2018, USA federal government agencies are barred from purchasing Huawei equipment.
Wanzhou Meng, Huawei's chief financial officer, was reportedly arrested in Canada on Saturday.
In May, the Pentagon banned the sale of Huawei phones on military bases.
The US later replaced the ban with a fine and governance changes.
In 2012, the Australian government banned Huawei from bidding for NBN, Australia's broadband access network, for national security reasons.
Last week, New Zealand's Government Communications Security Bureau (GCSB) rejected a deal for Huawei to provide 5G equipment to Spark. Huawei has said neither it nor Skycom ultimately provided the HP equipment.
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