Earlier in the day, GM said the United Auto Workers strike had a big impact on its business.
The tentative agreement is expected to appease autoworkers who were concerned by GM's plan to idle the Detroit-Hamtramck Assembly Plant in Michigan by placing production of an electric truck there.
The union's strike against the company is just shy of the one-month mark.
General Motors CEO Mary Barra reportedly held talks with UAW top brass in an effort to end the strike.
The labor action is hurting workers outside the auto industry, and they don't have union assistance.
Terry Dittes, vice president of UAW's GM Department, said in a letter to union members that the offer sought concessions from the union.
Trump has been a recent critic of GM.
In late May, President Trump said the U.S. would impose a 5 percent tariffs on all Mexican goods until the country steps up its efforts to combat illegal immigration across the southern border.
The president is pressing the U.S. automaker to move up scheduled negotiations with the UAW.
The century-old automaker is making the necessary adjustments to keep up with changing demand.
General Motors CEO Mary Barra said on Friday that GM’s all-electric Cadillac will “absolutely” compete with Tesla.
Trump escalated his criticisms of General Motors on Thursday.
Former Chrysler CEO Bob Nardelli told FOX Business that General Motors CEO Mary Barra was forced to make the difficult decision to shut down four U.S. auto plants.
The automaker announced plans to slash 15 percent of its salaried workforce in North America and cease production at five plants.