The U.S. government has set tariffs of as much as 101.8% on imports of passenger vehicle and light truck (PVLT) tires from four countries including Vietnam. The case includes the first final tariff decision that has factored in currency manipulation as a subsidy, adding up to 7.9 percentage points to tariffs on imports from Vietnam. That may be a precedent for other cases, though only Switzerland has also been declared as having met the Treasury Department’s criteria for being a currency manipulator. The threat of tariffs has led to a reorientation of PVLT tire supply chains. Total U.S. ...