Kuala lumpur: The Malaysian rubber market experienced a decline today as global market sentiment was negatively impacted by renewed concerns over US-China trade tensions, a dealer reported. Despite these tensions, further losses in the rubber market were mitigated by a recovery in oil prices, a weaker ringgit against the US dollar, and positive Chinese economic data, particularly in car sales.

According to BERNAMA News Agency, the dealer highlighted that US President Donald Trump announced plans to impose an additional 100 percent tariff on all Chinese imports. This decision was in response to China’s restriction on its critical mineral exports. Trump also intends to implement new export controls on certain US-made software deemed critical to national security.

Meanwhile, the China Passenger Car Association (CPCA) reported an acceleration in China’s car sales. In September, sales rose by 6.6 percent year-on-year to 2.27 million units. The dealer noted that dealers and consumers capitalized on trade-in subsidies before more local governments suspended these incentives.

At 3 pm, the Malaysian Rubber Board indicated that the price of Standard Malaysian Rubber 20 (SMR 20) decreased by 7.5 sen to 732 sen per kilogram, while latex-in-bulk dropped by 1.5 sen to 572.5 sen per kilogram.