Reports have suggested that Taiwo has suffered a falling out with his coach after refusing to pen a new deal.
That has led to him being linked with a host of clubs across Europe, with Atletico Madrid, Liverpool and Tottenham believed to be in the running.
However, Deschamps is adamant that the Nigerian full-back is not for sale and hopes he can still be persuaded to extend his stay with the reigning Ligue 1 champions.
"There is no Taiwo case to answer," he told L'Equipe. "I have given my position and we will not be shooting ourselves in the foot. It would not be logical to sell him.
"I understand what he wants. Today he has one year remaining on his contract and we would like him to prolong it, but his agent is refusing to cooperate.
"I can confirm that there won't be as many transfers as there were last year. Ben Arfa? He is still here and I am not going to say who is going and who isn't."
Deschamps is more concerned with strengthening at present and is continuing with his efforts to lure midfield enforcer Alou Diarra away from Bordeaux.
"Our priority is to reinforce," he added. "Diarra is a quality player and I can understand why Bordeaux want to keep him, but we know he has the opportunity to leave.
"I am also looking to bring in a forward. Unfortunately, at the moment there are not many options."