Target CEO Brian Cornell slammed claims by Democrat presidential nominee Vice President Kamala Harris on Wednesday that retailers were hurting consumers by engaging in price gouging.

Harris said last week that her plan to combat inflation that skyrocketed during the Biden-Harris administration was to implement price controls, which most economists oppose.

Cornell was asked during an interview on CNBC: “Have you boosted any of your profits from gouging on prices? And how prevalent and pervasive do you think that was in terms of causing the recent 40-year highs in inflation?

Cornell responded by noting that the retail giant has reduced prices on roughly 5,000 items.

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“I’ll put my retail hat on for a second,” he said. “You two talk to industry leaders in every different sector. Is there a more competitive space than retail?”

“We’re celebrating this morning, the fact that we delivered a margin rate of over 6%,” he said. “You talk to other CEOs who are delivering up income of 20%, 30%, 40%, 50%,” he continued. “So we’re in a penny business.”

“It is a penny business, and it’s a very competitive space, and we provide the value consumers are looking for,” he added.

He also said that raising corporate taxes, which Harris supports, would hurt businesses.

“When the taxes were reduced, we put our capital to work,” he said. “Since 2017 when the corporate taxes were reduced, we spent close to $50 billion of capital building new stores across the country, remodeling over 1,000 stores.”

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“We put the business dollars back into our business,” he continued. “It’s helped us grow since 2017 our top line almost $40 billion, and I think it’s the way America should work.”

WATCH:

Target CEO Brian Cornell rips Kamala Harris’ claim that retailers are “price-gouging”:

“We’re in a penny business. It’s a very competitive space.” pic.twitter.com/BsmZnL8TDI

— Ryan Saavedra (@RealSaavedra) August 22, 2024

Taylor Swift finally broke her silence on the alleged terror plot in Vienna earlier this month that led to her having to cancel three shows in Austria following the foiled attack at her concert.

In a lengthy post on Wednesday on Instagram, the 34-year-old singer said she had officially wrapped the European leg of “The Eras Tour” as she praised the “passionate crowds” who came out and thanked her crew and fellow performers for making it possible.

“Walking onstage in London was a rollercoaster of emotions,” Swift wrote. “Having our Vienna shows canceled was devastating. The reason for the cancellations filled me with a new sense of fear, and a tremendous amount of guilt because so many people had planned on coming to those shows.”

“But I was also so grateful to the authorities because thanks to them, we were grieving concerts and not lives,” she added. “I was heartened by the love and unity I saw in the fans who banded together. I decided that all of my energy had to go toward helping to protect the nearly half a million people I had coming to see the shows in London.”

“My team and I worked hand in hand with stadium staff and British authorities every day in pursuit of that goal, and I want to thank them for everything they did for us,” Swift continued. “Let me be very clear: I am not going to speak about something publicly if I think doing so might provoke those who would want to harm the fans who come to my shows.”

The “Shake It Off” hitmaker said by remaining silent until the European part of the tour wrapped up, she was “actually showing restraint” and that it was right to wait to express herself.

“My priority was finishing our European tour safely, and it is with great relief that I can say we did that,” the superstar singer wrote. “And then London felt like a beautiful dream sequence. All five crowds at Wembley Stadium were bursting with passion, joy, and exuberance. The energy in that stadium was like the most giant bear hug from 92,000 people each night, and it brought me back to a place of carefree calm up there.”

She closed out her post saying she will see the fans in October when the North America leg of “The Eras Tour” resumes — “but for now we get to take a much needed rest. Thank you for the adventure of a lifetime. May it continue…”

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On August 7, Austrian authorities arrested two suspects who were found to have links to the Islamic State group and al-Qaeda, per an AP report.

Investigators said that the teens intended to carry out an attack at Swift’s concert, using explosive materials and knives recovered at one of their homes that would “kill as many people as possible,” as previously reported.

Related: Taylor Swift Shows In Austria Canceled Following Arrest Of Two Suspects In Concert Attack Terror Plot