President Trump spoke out Sunday about reports he was considering purchasing Greenland from Denmark.

“Essentially it’s a large real estate deal. A lot of things can be done. It’s hurting Denmark very badly because they're losing almost $700 million a year carrying it," he told reporters outside Marine One in Morristown, N.J. "So, they carry it at great loss, and strategically for the United States, it would be nice. And, we're a big ally of Denmark and we help Denmark, and we protect Denmark."

The president acknowledged, however, that the matter was not a priority for the administration.

“I’m thinking about going there. I’m not necessarily, definitely going there, but I may be going. We're going to Poland and then we may be going to Denmark -- not for this reason at all, but we're looking at it," he said. "It’s not number one on the burner, I can tell you that."

President Trump acknowledges discussing the U.S. potentially buying Greenland: "Essentially, it's a large real estate deal" https://t.co/H9n7JKbYS7 pic.twitter.com/l5ymJuseI3 — CBS News (@CBSNews) August 18, 2019

Trump is currently scheduled to go to Denmark in early September for bilateral meetings after marking the 80th anniversary commemorations of the start of World War II in Poland.

White House chief economic adviser Larry Kudlow spoke about the reports on “Fox News Sunday,” saying “we’re looking at it, we don’t know.”

He added: "Years ago, [then-President] Harry Truman wanted to buy Greenland. Denmark owns Greenland, Denmark is an ally."

Greenland’s government acknowledged the reports last week, saying the country considered it “an expression of greater interest in investing in our country and the possibilities we offer,” noting, however, that “Greenland is not for sale.”

Politicians in Denmark and Greenland were more blunt, with some calling it "ridiculous" and others saying it was proof Trump has "gone mad."

Denmark's prime minister, meanwhile, said the thought of buying the semi-autonomous Danish territory is "an absurd discussion."