{"id":72308,"date":"2026-09-28T01:08:14","date_gmt":"2026-09-28T05:08:14","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-and-china-strike-60-billion-tariff-deal-northern-star-rejects-27-billion-bid\/72308\/"},"modified":"2026-09-28T01:08:14","modified_gmt":"2026-09-28T05:08:14","slug":"us-and-china-strike-60-billion-tariff-deal-northern-star-rejects-27-billion-bid","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-and-china-strike-60-billion-tariff-deal-northern-star-rejects-27-billion-bid\/72308\/","title":{"rendered":"US and China Strike $60 Billion Tariff Deal; Northern Star Rejects $27 Billion Bid"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>The US and China reached a $60 billion trade agreement<\/strong> to lower tariffs on non-sensitive goods, signaling a significant de-escalation in trade tensions.<\/li>\n<li><strong>Northern Star Resources (<a href=\"\/stock\/NST\">NST<\/a>) rejected a $27.2 billion takeover proposal<\/strong> from <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a> Fields (<a href=\"\/stock\/GFI\">GFI<\/a>), stating the unsolicited offer &quot;materially undervalued&quot; its premier gold portfolio.<\/li>\n<li><strong>General Motors (<a href=\"\/stock\/GM\">GM<\/a>) warned of intensifying competition<\/strong> in the US market as global automakers seek a &quot;safe haven&quot; from Chinese rivals.<\/li>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">Oil prices<\/a> rose on geopolitical risks and stockpile declines<\/strong>, while gold fell as markets priced in &quot;higher-for-longer&quot; interest rates from the Federal Reserve.<\/li>\n<li><strong>Thailand\u2019s domestic auto sales surged 25.59% in August<\/strong>, driven by a massive shift toward electric and hybrid vehicles.<\/li>\n<\/ul>\n<h2>Global Trade and Geopolitics<\/h2>\n<p>The <strong>United States and China<\/strong> have agreed to a new &quot;30-for-30&quot; framework, establishing a lower tariff regime for <strong>$60 billion in two-way trade<\/strong>. The deal covers non-sensitive goods ranging from <strong>agricultural products like chilled foie gras and camels<\/strong> to consumer items like electric shavers and toys. This agreement follows a high-stakes summit in Washington between President Donald Trump and President Xi Jinping, aimed at stabilizing economic relations.<\/p>\n<p>In Europe, <strong>EU defense ministers<\/strong> are meeting in Brussels to discuss a &quot;Nato-style&quot; joint response protocol for Russian hybrid attacks. The proposed <strong>Emergency Security Protocol<\/strong> would coordinate collective action against sabotage, arson, and cyberattacks that fall below the threshold of conventional warfare. Meanwhile, <strong>Saudi Foreign Minister Prince Faisal bin Farhan<\/strong> arrived in Washington on Monday to meet with US Secretary of State Marco Rubio, focusing on regional stability and escalating tensions with Houthi rebels.<\/p>\n<h2>Corporate M&amp;A and Industry Trends<\/h2>\n<p>Australia&#39;s largest gold producer, <strong>Northern Star Resources (<a href=\"\/stock\/NST\">NST<\/a>)<\/strong>, officially rejected a <strong>US$27.2 billion (A$38.7 billion)<\/strong> acquisition bid from South Africa&#39;s <strong>Gold Fields (<a href=\"\/stock\/GFI\">GFI<\/a>)<\/strong>. The Northern Star board described the proposal as &quot;highly opportunistic,&quot; noting it failed to reflect the fundamental value of its tier-one assets. Shares of Northern Star jumped <strong>11%<\/strong> in Sydney following the announcement, as investors weighed the potential for a sweetened offer or further consolidation in the gold sector.<\/p>\n<p>In the automotive sector, <strong>General Motors (<a href=\"\/stock\/GM\">GM<\/a>)<\/strong> CFO Paul Jacobson warned that the US is becoming a &quot;safe haven&quot; for global carmakers fleeing Chinese competition. This influx is expected to make the domestic market significantly more competitive, even as US manufacturers lobby for permanent bans on Chinese-made software and hardware. Conversely, <strong>Thailand\u2019s automotive hub<\/strong> reported a <strong>25.59% surge<\/strong> in domestic sales for August, with production rising <strong>10.93%<\/strong> to 124,646 units.<\/p>\n<h2>Commodities and Markets<\/h2>\n<p><strong>Gold prices retreated<\/strong> on Monday as expectations for a &quot;higher-for-longer&quot; interest rate environment bolstered the US dollar. <em>Market sentiment remains cautious<\/em> as the Federal Reserve signals it may delay rate cuts to combat persistent inflation. In contrast, <strong>Oil prices trended higher<\/strong> due to a combination of declining global stockpiles and heightened geopolitical risks in the Middle East, specifically concerns regarding potential conflict involving Iran.<\/p>\n<p>The <strong>UK biodiesel industry<\/strong> expressed sharp criticism of the government\u2019s decision to reject protective tariffs on cheaper US imports. Despite findings that US imports were subsidized, the UK government cited an &quot;economic interest test,&quot; concluding that duties would disproportionately harm consumers. Industry leaders warned this move puts domestic manufacturing at risk of <strong>long-term closure<\/strong>, increasing reliance on overseas fuel supplies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The US and China reached a $60 billion trade agreement to lower tariffs on non-sensitive goods, signaling a 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