Shandong Yongtai Group Co., the 10th-largest maker of tires in China, declared bankruptcy earlier this month, at least partly because of pressure from the U.S.–China trade war.
On Aug. 2, the Dongying City Intermediate People’s Court in Shandong Province received the company’s bankruptcy filing. The company, which was established in 1996, was ranked 32nd in 2016 on U.S. magazine Tire Business’s list of the world’s most powerful tire companies. At its peak, the company had more than 5,000 employees.
