NEW YORK ( TheStreet) -- Shares of U.S. tire manufacturers moved sharply higher Monday after the Obama administration said it would impose tariffs of as much as 35% on tires imported from China, the first salvo in what many fear could develop into a full-blown trade war.Even while the broader equities markets fell on those worries, Goodyear Tire (GT - Get Report) shot higher by 93 cents, or 5.4%, to $17.99 in morning trading, while Cooper Tire & Rubber (symbol) (CTB) advanced $1.47, or more than 10%, to $16.04. Trading was heavy in both names.
Tire Tariff Boosts Goodyear, Cooper Shares
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