Chinese President Xi Jinping said Tuesday his country would move to reduce auto tariffs this year and work harder to protect U.S. intellectual property rights, two key complaints that have led the U.S. and China to the brink of a trade war.

In a speech to business leaders in China, Xi promised to “significantly lower” tariffs on auto imports, and ease restrictions on foreign ownership of the auto industry “as soon as possible,” according to the Associated Press.