Although Apple has not stated a connection to the tariffs, the company has announced several global store closures and openings starting as soon as August. On the bright side, Apple plans to open more than twice as many stores as it will close, showing its commitment to long-term global expansion and adaptation to economic shifts.

The move speaks to slowing spending by consumers and Apple’s continuing struggles in China, its second-largest market.

Apple Inc. is closing a retail store in China for the first time, marking a notable retreat in a market where the iPhone maker is striving to revive sales.