President Trump said that imposing tariffs on European cars is still on the table while taking questions from reporters as he meets with other world leaders at the World Economic Forum in Davos, Switzerland.
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"We expect to be able to make a deal with Europe, and if they don't make a deal we'll certainly give [tariffs] very strong consideration," Trump said.
The U.S. has a trade deficit with Europe, and Trump could turn his attention toward a trade deal with the European Union very soon.
"They know what the deadline is," the president told The Wall Street Journal on Tuesday in a sideline interview, noting that the date would be public soon.
He met with European Commission President Ursula von der Leyen on Tuesday as well.
The president has been talking up the issue for months.
"I came into a position where the European Union was making anywhere from $100 to $150 billion a year in deficits to the United States. They were making it and we were losing it, and so we had to do something that is fair," Trump said during a meeting with French President Emmanuel Macron in December.
Macron said Monday that he had a "great discussion" with Trump about France's planned digital tax, which is something Trump has heavily criticized.
In addition, Trump has publicly taken aim at Germany, even threatening last year to impose tariffs on foreign cars sold in the U.S. over trade deficits. He has pressured automakers like BMW to build more cars in the U.S.
Executives from Germany’s top automakers met with Trump at the White House at the end of 2018.
FOX Business' Brittany De Lea contributed to this report.