There was a tweet about Windows Phone 7 offering USB tethering. It first started with a claim the feature will be available, and it would be available withour the courier adding additional charges. Unfortunately, that claim has been retracted. However, there is still hope for USB tethering.

I think in all likelyhood, Windows Phone 7 will offer USB tethering so you can get to the internet through your phone, but it’ll be with a data plan surcharge.That’s OK by me for the moment because sometimes it’s critical to get your data while on-site or at a remote location where there just isn’t an option. In addition, this would give WP7 a nice edge on Apple products who don’t let you tether.
Source: Erictric.com.