Washington (CNN) President Donald Trump wasn't able to cut a deal for a grandiose Veterans Day military parade, but this year, he says he aims to start a new 4th of July tradition.

The only hitch? The "tradition" he says he wants to start in the nation's capital already exists.

Trump offered few concrete details Tuesday when he mused to reporters that it could take place in Washington and it could include a parade.

"We're thinking about doing, on the 4th of July or thereabouts, a parade, a 'Salute to America' parade. I guess it'd be really more of a gathering than a parade. Perhaps at the Lincoln Memorial. We're looking at sites. But we're thinking about doing something that would, perhaps, become a tradition," Trump said.

Unlike the hefty price tag the administration rejected for the planned but never executed Veterans Day parade, Trump said this time the fireworks would be free.

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