Under the pact, Australia would be armed with nuclear submarines at a cost of A$350 billion (NZ$377b).
In a statement, Collins said the US review was about Aukus pillar 1, of which New Zealand had never been a part.
New Zealand has had ongoing discussions about joining pillar 2 of the alliance, but any decisions on doing so would be a matter for the Cabinet, Collins said.
Prime Minister Christopher Luxon said he had not received any reports or advice on what the Trump Administration reviewing the Aukus security pact might mean for New Zealand.
Luxon told RNZ he was not concerned that the review could spell the end for pillar 2.
“It’s been left very open-ended. We’re exploring pillar 2 – it’s been, to be honest, quite slow going.
“We are yet to be invited to participate in pillar 2.”
Luxon said the review was for Australia, the US and the UK to work through.
Australia was told last week by US Defence Secretary Pete Hegseth to significantly boost its defence spending.
Australian Prime Minister Anthony Albanese said he would not be dictated to on the matter. He noted Australia’s defence spending was already set to increase from 2% to 2.3% of gross domestic product (GDP) over the next eight years.
New Zealand also came under pressure from the Trump Administration earlier this year to increase its defence spending to 2% of GDP.
Foreign Minister Winston Peters previously said New Zealand’s trading partners would judge it if it did not “step up” and play its role by increasing defence spending.