Fox Business host Larry Kudlow remarked on Friday evening that “no one knows” what Vice President Kamala Harris meant when she attributed inflation to “price gouging” during her speech outlining her economic agenda if elected in November.

Kudlow joined “Special Report With Bret Baier” following Harris’ speech, where she detailed her economic proposals, including a plan to implement a federal ban on “corporate price gouging” in food and grocery stores.

Kudlow criticized the proposal, pointing out that it left many people confused and noting that the Federal Trade Commission (FTC) has previously attempted a similar approach to tackle alleged price gouging, only to lose all their cases over the past three and a half years.

“Look, this is price controls by any other name. I mean, it’s like a sheep in sheep’s clothing. It’s price controls because it’s price controls,” Kudlow said. “We know how bad that turned out for Nixon. Price controls never worked in Russia, Soviet Union, Venezuela, Cuba. They never worked. They cause shortages. They cause black markets, and eventually they cause higher prices because the controls are lifted because people are yelling about shortages. But no one really knows what she means by price gouging. There’s no definition. There is a lot of blah, blah, blah in their announcement about rules and the Federal Trade Commission — well, the Federal Trade Commission has tried a bunch of cases about price gouging or so-called corporate greed, and they’ve lost them all over the past three and a half years.”

Kudlow went on to highlight the low profit margins of grocery stores, questioning why Harris had not criticized companies like Apple and Microsoft for “making too much money,” given that their profit margins are significantly higher.

“One more thing. Ms. Harris yelling about beef producers, I guess, and poultry producers, and grocery stores, so I looked at their corporate margins. Are they making any money? I mean, if they are gouging somebody, Bret, they must be enormously profitable, and they are not,” Kudlow continued. “The grocery stores’ profit margins: 1.2%. Meat, beef and poultry: 4.7%. All of American business, 8.5%. Look, if she wants to go after somebody for making too much money, here’s what Apple: 26%, Microsoft: 36%, NVIDIA: 53%. You see where I’m going on this? There’s no case to be made, no one knows what it is. But it’s bad, if it ever worked it would be bad.”

Following Harris’ speech, which addressed issues such as high costs, housing shortages, and tax reductions for some Americans, questions began to surface about her economic strategy. Before the event, Washington Post columnist Catherine Rampell had expressed criticism of the vice president’s plan in an op-ed, particularly highlighting Harris’ emphasis on combating price gouging.

“Nobody can explain what price gouging means. It’s like that old line about pornography, ‘I know it when I see it,’ in the sense that what does it mean to have an excessive price or an excessive profit margin? That seems to be shorthand for ‘A price or profit margin that bugs me,’ that seems too high,” Rampell said Friday on CNN.