Tesla stock swung Wednesday as news about tariffs and sales whipsawed shares, but finished strong. Positive news from President Donald Trump, developments on the trade front, and U.S. sales data were on the positive side of the ledger.

Tesla’s sales of China-made electric vehicles dropped 49.2% year-on-year in February, falling to 30,688 units, the lowest since August 2022, according to data from the China Passenger Car Association (CPCA).

Shares of Tesla (NASDAQ: TSLA) are trading lower on Tuesday. The company's stock had lost 7.5% as of 10:30 a.m. ET and as much as 8% earlier in the day. The drop comes as the S&P 500 lost 1.9%, and the Nasdaq Composite lost 2%.

Tesla stock rise early Tuesday, along with other auto makers, as investors look for a deal on import tariffs with Canada and Mexico.

Elon Musk’s first full month in the White House has been anything but smooth for Tesla. Just a month after Trump’s inauguration—and with Musk now at the helm of the Department of Government Efficiency—Tesla’s fortunes have reversed.