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Brent crude posted its biggest intraday percentage gain since the start of the Gulf War in 1991.

But Amazon appears to have the most at stake.

Brian Schwieger, co-head of equities, ETFs, and fixed income at the LSE, said: “Welcoming CMSUK as a member firm is another step in our journey towards greater collaboration and partnership with China. It underscores the unique and increasing appeal that London holds as the venue of choice for Chinese investment, trading, and capital raising.”

Breaches of personal data have been making headlines in China recently.

Braden said his report referred to US imports from Asia, not just China. "It is also important to note that it was for just the first quarter. That growth was most likely due to US importers rushing shipments as tariff uncertainty grew," Braden said.