Tiremaker Michelin’s Q4’20 revenues fell by 10.1% year over year, missing analysts’ expectations by 4.1 percentage points. Competition has been a major factor with CEO Florent Menegaux stating “in 2020, the U.S. tariff led to a huge influx of Asian tires into the U.S., which explains why the boom in the market and, of course, which also explain our relative performance against that boom.” U.S. seaborne imports linked to the firm fell by 59.7% year over year in January before falling a further 26.2% in January. An investigation into U.S. imports of tires from four countries likely drove s...