Even before President Donald Trump’s sweeping tariff announcement, analysts worried that Starbucks’ plans to overhaul its stores and service would take time and could get expensive.

CEO Brian Niccol thinks it is. Wall Street is not so sure. Starbucks brought on Niccol in September to liven up the Seattle-based coffee chain’s sales and repair its reputation. The wildcard popping up is a burgeoning and erratic trade war between the U.S. and China, Starbucks’ second largest market and a key supplier.