Internet reports that on the morning before the first meeting of the China-US Economic and Trade Consultation Mechanism, CNBC connected Hassett, director of the White House Economic Council, for an interview. He revealed for the first time that the U.S. government is considering lifting some export controls in exchange for China's further relaxation of rare earth export controls. Hassett said that this round of talks "won't be long, but it will be a big, strong and shake"; if China allows large-scale exports of rare earths,"all U.S. export controls will be relaxed immediately." The two sides will then continue to deal with some "smaller matters."