Foreign Minister Lin Chia-lung spoke to journalists in Taipei two weeks after Trump and Xi held talks in South Korea, which the US leader later said did not touch on Taiwan.
Ahead of that meeting, aimed at calming a trade war between the two major powers, there were concerns in Taipei that the island could be used as a bargaining chip to strike a deal.
Asked about reported plans for talks between the two leaders in Beijing next year, Lin said that "some people are worried that the Trump-Xi meeting might sacrifice Taiwan's interests."
"Of course, we need to pay close attention. I mean we should be concerned, but not overly worried, because harming Taiwan could also harm US interests."
China claims self-governing Taiwan as part of its territory and has threatened to use force to bring it under its control.
Most countries, including the United States, have diplomatic relations with Beijing instead of Taipei.
While the United States does not officially recognise Taiwan's claim to statehood, Washington remains the island's most important partner and arms supplier.
Trump's remarks on Taiwan have raised doubts about his willingness to defend the island, which lives under the constant threat of a Chinese invasion.
Lin said Taiwan's communications with the United States have been "very smooth", but he added that "some decisions are ultimately made by President Trump."
Taiwanese President Lai Ching-te has been at pains to find favour with Trump, vowing to raise defence spending to more than three percent of GDP next year.
Lai has also pledged to boost investment in the United States as his government tries to reduce Trump's 20-percent tariff on Taiwanese exports.
Taiwan is a powerhouse in the manufacturing of semiconductor chips, which are the lifeblood of the global economy, as well as other electronics.
Trump has previously accused Taiwan of stealing the US chip industry and his administration had made clear it wants more of the critical technology made on American soil.
The concentration of chip production in Taiwan has long been seen as a protection against an attack by China and an incentive for the United States to defend it.
"Some say Trump is a good deal maker, but while he certainly wants to make a good deal, I believe that sacrificing Taiwan's interests will not bring long-term benefits to the US," Lin said.
"This is something we can be relatively confident about."
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