265 is the width, your tire is 265 millimeters (10.4 inches) wide from the outer sidewall to the inner sidewall.
Your sidewall is 70% of the width, so your sidewall is 185.5 millimeters (7.3 inches) high.
The 17 is the diameter of the wheel.
I have 265/75-15 tires on my Toyota truck, if I turn it really really sharp it'll rub. But I just make sure I don't turn it really really sharp.
You can lift the truck...but for how much $?
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