Trippier's current contract at St James' Park expires at the end of this season.
The former England international is 35 and behind Tino Livramento in the right-back pecking order when Newcastle have a fully fit squad.
But he remains a hugely important figure. Not only has he started half of Newcastle's Premier League games this season, the former captain is also hugely important behind the scenes and has been since he arrived from Atletico Madrid in the January of 2022.
Trippier played a starring role in helping Newcastle secure Premier League survival that season and Howe described the right-back as a "transformative signing".
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He's played almost 150 games for the club but his future is uncertain as he fast approaches the end of his deal.
"There's been no development on his contract but I'd never rule anything out," said Howe.
"There'll be discussions on another day with Kieran and ourselves. Very open and we'll have dialogue as the season progresses.
"He's been an unbelievable player and professional for this football club.
"It should never be underestimated what he's done and the difference he's made since signing from Atletico.
"It was a transformative signing and I love seeing him play for the team and him giving what he gave us against Tottenham [in midweek].
"If he can manage to maintain that level between now and the end of the season it will be a massive help for us."
With Tino Livramento not expected to be back fit and available until the start of next month, Trippier will continue to play right-back for Newcastle through the crucial coming weeks, starting at Aston Villa in the FA Cup on Saturday evening. Trippier has started the last five Premier League games for the Magpies.
Howe said: "It's been a really difficult period for him because the full back positions are physically one of the hardest in the team.
"Kieran isn't 20 years old anymore so he's having to deal with the position and the games at a time in his career when it will probably be the hardest for him to do that.
"What you have with Kieran is an unbelievable leader and professional. His appetite and hunger for success is undiminished.
"His game against Tottenham was the strongest he's had. He looked really good athletically, used the ball so well but his leadership with the back four was outstanding.
"It was the best we've looked defensively for some games. He's such an important player.
"When he plays well and is in a good place the team really benefits. There's a big expectation on him to try and deliver. But at the moment he's our only fit recognised full-back and that's tough, But he's managing it really well."
Howe admitted Emil Krath is still not close to a return from the knee injury that has sidelined the Swedish international since November.
Teenage right-back Leo Shahar has been a regular on the bench this season, but Howe is reluctant to ask too much too soon from the 18-year-old.
He said: "Leo is developing well. I have to be really careful. It's very easy to see the name and think he's a full back and put him in, but I have to be mindful of when players are ready.
"I'll make the decision when I feel he's ready.
"What I would say is from what I see and know he's a player who believes himself and backs himself and has real potential, but I have to be careful."