Prime Minister Anthony Albanese and other world leaders have reiterated their support for Ukraine despite the US president being involved in a heated exchange with Mr Zelenskiy at the White House over the war in Ukraine and a potential peace deal.
Opposition home affairs spokesman James Paterson said a ceasefire that is imposed on Ukraine would not be acceptable and would be a win for Russian leader Vladimir Putin.
Despite the tense meeting between Ukraine and US presidents, Senator Paterson said America would still be crucial to any ceasefire negotiations.
"It's very hard to see how peace can be durable if there isn't American leadership, if there isn't an American security guarantee," he told ABC's Insiders program on Sunday.
"That does seem to be something that is part of the negotiations between Zelenskiy and Trump, and we're all hopeful that that is able to be achieved."
Mr Zelenskiy had reportedly viewed the meeting with Mr Trump as an opportunity to convince the United States not to side with President Putin, who ordered the invasion of Ukraine.
Instead, Mr Trump and Mr Vance lectured Mr Zelenskiy, saying he showed disrespect, driving relations with Kyiv's most important wartime ally to a new low, according to Reuters.
"You're not in a good position. You don't have the cards right now. With us, you start having cards," Mr Trump said.
Senator Paterson said Australia should not reconsider its defence alliance with the US despite the comments on the war in Ukraine.
"Occasionally, even between allies, when there is contention, diplomacy can be very robust. (It's) critical to have American leadership in the world," he said.
"That's in the world's interest, and ... that's in as America's interest, and I hope that we are able to achieve a ceasefire on acceptable terms to Ukraine."
Treasurer Jim Chalmers said Australia was unequivocal in its support for Ukraine.
"We couldn't be more supportive of President Zelenskiy and his people. This is a brave and courageous country," he told Sky News.
"It has a democratically elected leader who will go down in history for the bravery of his position and his leadership, and we support him and his country without reservation."
Dr Chalmers said further financial support for Ukraine from the federal government was always under consideration.
Australia has committed $1.5 billion to help Ukraine defend itself.
Opposition defence spokesman Andrew Hastie said the US President's approach on trade and security had implications for Australia.
"We need to demonstrate a strong hand. President Trump studies your cards very closely, and I think he wants to know that his allies have a strong hand," he told Sky News.
Australia stands with Ukraine. We've always stood with Ukraine since Russia's illegal, immoral and unjustified invasion of Ukraine ... we want to see Ukrainian sovereignty upheld in any peace settlement."
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