RUBBER-Japan futures plunge to near 8-month low on US tariff woes

SINGAPORE, April 4 (Reuters) -

• Japanese rubber futures slid to multi-month lows on Friday and were set for weekly losses after U.S. President Donald Trump announced a sweeping set of tariffs, escalating trade war concerns while triggering fears of a global recession.

• The Osaka Exchange (OSE) rubber contract for September delivery JRUc6, 0#2JRU: slumped 11.3 yen, or 3.41%, at 320 yen ($2.19) per kg as of 0211 GMT, losing 8.36% so far this week.

• Earlier in the session, prices hit 318.7 yen, their lowest since August 7, 2024.

• U.s. tariff policies have increased market concerns about tire demand and dampened the outlook for exports, Chinese financial information site Tonghuashun Information said.

• Chinese stock markets slumped on Thursday after Trump unveiled a sweeping set of reciprocal tariffs that were particularly heavy on China and its main trading partners.

• Chinese imports will be hit with a 34% tariff, bringing the total new levy to 54%, with Beijing vowing countermeasures.

• Meanwhile, Trump's 25% auto tariffs will cover hundreds of billions of dollars worth of imports of vehicles and auto parts imports annually.

• Automobile sales could influence the intensity of automobile manufacturing, which involves using rubber-made tyres.

• Asian shares struggled to recover their heavy losses from the previous session as Japan's Nikkei .N225 fell 1.85%, extending its 2.8% slide from Thursday.

• The U.S. dollar edged down 0.15% to 145.89 yen JPY=EBS after slumping 2.2% in the prior session. USD/

• A stronger currency makes yen-denominated assets less affordable to overseas buyers. FRX/

• The front-month rubber contract on Singapore Exchange's SICOM platform for May delivery STFc1 last traded at 183 U.S. cents per kg, down 1.3%.

• China's financial markets are closed for a public holiday. Trading will resume on Monday, April 7.

($1 = 146.1600 yen)