America's economy is "soaring" under President Donald Trump and there are no concerns about a recession, Vice President Mike Pence said in an interview airing Thursday.
"Look what's happening in manufacturing alone," Pence told MSNBC's "Squawk Box." "I remember in the summer of 2016 when I was just joining this ticket, the last president was saying what are we going to do wave a magic wand to bring back manufacturing jobs. President Trump said, no, we can bring jobs back."
He added that he does back Trump's calls for further rate cuts from the Federal Reserve. "Well, you saw the consumer numbers that came out yesterday. There's no evidence of inflation in this economy," Pence said.
Meanwhile, the United States is just scratching the surface of economic growth, said Pence, including 3% growth and 5.5 million jobs since the 2016 election day.
"You look at nations around the world, nations that we compete with every day, and the president really does believe that 3% is a starting point in this economy," said Pence.
The vice president also told CNBC that the nomination process for Herman King and Stephen Moore is in the "very early" stages.
"Both are people that really understand what the president's philosophy is in this economy, but we'll see how it plays out," said Pence.
Progress also is being made in negotiations with China, Pence said.
"Half of our international trade deficit is with China, but also to address things like intellectual property rights and the structural reforms, forced technology transfers that's all on the table," he said.
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