"Gossip and lies, they take the elevator. But truth takes the stairs... time will tell my story," Perry, who is currently pregnant with her first daughter with fiance Orlando Bloom, said while discussing the past feud.
"What I'm so grateful for is that we did get to make up and we made up publicly to be an example of redemption."
She added that the pair now discuss "the best we want for each other," explaining, "It's hard for young girls, growing up (with) cliques and high school and pettiness and all that stuff, so now we're super friendly and I've always wanted the best for her and we can talk about the best we want for each other."
The feud between the pair began in 2014, when Taylor told Rolling Stone magazine she and Katy had fallen out after the "Roar" hitmaker nabbed some of the "Shake It Off" star's dancers for a string of live dates.
However, the duo made amends when Katy reached out to Taylor on the opening night of her 2018 Reputation Stadium Tour, sending her a literal olive branch. Katy has since proved she's back on good terms with her former pal by appearing in the video for Taylor's new track "You Need to Calm Down".