Kuala lumpur: The Malaysian rubber market closed lower today in tandem with its regional counterparts following the latest United States (US) tariff announcement, said a dealer. Market players remained cautious, anticipating further cues on US monetary policy.

According to BERNAMA News Agency, the US Department of Commerce expanded its tariff list on Tuesday by adding 407 product categories of "derivative" steel and aluminium products. These products will now face a 50 per cent tariff on any steel and aluminium content, along with the country rate on the non-steel and non-aluminium content. This development prompted market players to stay on the sidelines, awaiting more clarity on potential economic impacts.

Despite the downturn, further losses in the Malaysian rubber market were mitigated by rising crude oil prices and improved economic data from China, which has fueled expectations of additional economic stimulus. These factors provided some relief to the market amidst the broader effects of the US tariff expansion.

At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR) 20 fell by 14.5 sen to 724.5 sen per kilogramme (kg), while latex in bulk declined by five sen to 567 sen per kg.