The present invention aims to provide a rubber composition for a clinch or chafer which enables to improve the rim chafing resistance, elongation at break, handling stability, and fuel economy in a balanced manner, and to reduce the number of broken spews in tire demolding; and a pneumatic tire produced using the rubber composition. The rubber composition for a clinch or chafer includes 100 parts by mass of a rubber component; 1.2 to 2.9 parts by mass of zinc oxide; and 2.2 to 4.0 parts by mass of stearic acid, the rubber component including 15 to 80% by mass of a butadiene rubber and 15 to 50% by mass of an isoprene-based rubber based on 100% by mass of the rubber component.