Western Europe joined the United States today in warning of possible new steps in the "immediate future" against Polish and Soviet authorities as a result of what the NATO governments termed a recent worsening of the situation in Poland.

Among the moves being considered, according to U.S. and European officials meeting here to review developments in Poland and coordinate the Western response, is a tightening of credit terms for government loans to the Poles and the Soviets.

In addition, some West European governments were reported today to be adopting diplomatic and political measures against Warsaw and Moscow in line with steps announced last month by the Reagan administration.

The European moves represented an early but very limited follow-through on the intentions signaled by America's allies two weeks ago to cool relations with the Soviets if conditions in Poland failed to improve.

But the measures put into effect by the alliance countries so far, or those said to be under consideration, still do not strike at major East-West trade connections.

Alliance officials say a basic agreement persists between the view, pushed by some U.S. officials, that now is the time to apply pressure on the Communists to reverse the repression in Poland, and another view, advocated by the West Europeans, that Western leverage over Moscow is limited and must be applied gradually for full effect.

A statement by the North Atlantic Treaty Organization issued after today's meeting said: "The allies agreed that the situation in Poland has worsened since the ministerial meeting of Jan. 11, and they deplore the absence of convincing signs that the repeated promises of a return to the policies of national renewal and genuine reforms, especially as far as civil liberties and trade union rights are concerned, are being carried out. On the contrary, the Polish authorities, supported by the Soviet Union, continue to ignore the true aspirations of the overwhelming majority of the Polish people."

Thus, it continued, "with the aim of exerting steady and graduated pressure on those responsible for events in Poland, allied representatives indicated a range of steps that their governments have taken now and others they are considering for implementation in the immediate future."

On Jan. 11, NATO adopted an agreement that committed each alliance member only to "identify" and "examine" certain "national possibilities" for action to censure Poland and the Soviet Union for Warsaw's Dec. 13 imposition of martial law.

Today's conference, which was attended by ranking officials from NATO capitals, was described as the first of a series of follow-up meetings to the ministerial session. The next two consultative sessions are scheduled for Jan. 27 and Feb. 3.

Briefing reporters afterwards, U.S. officials, who asked not to be identified, said announcement of specific actions by NATO countries in response to the Polish crisis were up to individual alliance governments. U.S. officials said that some announcements might come from European members following a meeting Monday and Tuesday of West European foreign ministers.

Unanimity in NATO was reported on just one protest action: All member governments have said they will send their foreign ministers next month to make a statement on Poland at the review conference of the 1975 Helsinki accords on European security and cooperation.

An unspecified number of European governments were said to have agreed to place travel restrictions on Polish diplomats and reporters in their countries similar to those restrictions that have been placed on Western diplomats and reporters in Warsaw, and to enforce more closely travel restrictions already in existence for Soviet diplomats. The West Europeans were also reported to be cutting back on official visits to and from the Soviet Union.

The United States was represented at the meeting by Robert Hormats, assistant secretary of state for economic affairs, and Allen Holmes, acting assistant secretary of state for European affairs.