Morata has been linked with a return to La Liga this month after struggling to adapt to both life in the Premier League and Maurizio Sarri's style of play at Chelsea.
Sarri has deployed Eden Hazard in a central role in recent weeks, pushing Morata further down the pecking order at Stamford Bridge.
The arrival of Higuain is now likely to see Morata leave the club, with Sarri revealing on Wednesday that the 26-year-old had told the club last month he wanted to go.
But, as Goal reported on Friday, Morata's move has been delayed due to issues surrounding Atletico winger Gelson Martins' proposed loan switch to Monaco .
"It hasn't been done yet," Simeone told a media conference. "Beyond all the wonderful words you have been saying, there is nothing done.
"What matters is when it is done.
"We are who we are here and we have to be smart approaching tomorrow's game. And if, finally, Morata's transfer becomes something real, I will speak on my thoughts."
Atletico's pursuit of Morata is thought to be driven by Nikola Kalinic's failure to make an impact in the Spanish capital, but Simeone insists the Croatia international remains a key part of his squad.
"I count on Kalinic and I count on all the players who are in our squad, being injured or not, and trying to get their best," he added.
Meanwhile Simeone insists there is "nothing to talk about yet" in relation to his new contract as he remains solely focused on the upcoming La Liga match with Getafe.
Negotiations have reportedly been ongoing for months between Simeone and the Atleti hierarchy to extend his deal beyond 2020.
Simeone is expected to become the highest paid member at Atleti with the new terms, earning more than star forward Antoine Griezmann.
However, reports that an announcement would be made soon were played down by the Argentine.
"There is nothing to talk about yet," he said. "I am just thinking of tomorrow's game when we will face Getafe, a team that is having an extraordinary season so far."