If trade tensions between the U.S. and China continue to escalate, that may have a "direct and very negative impact all over the world, especially Europe and the Eurozone," according to French Finance and Economy Minister Bruno Le Maire.

In fact, Le Maire said the tariffs battle, which kicked off last year, has already reached beyond the world's two largest economies. Speaking with CNBC over the weekend at the G-20 Finance Ministers Meeting in Fukuoka, Japan, he said Europe is already performing worse than it otherwise would because of the ongoing U.S.-China trade war.

He pointed, in particular, to the French and German economies as examples of those caught in the crossfire.

"We do not have the growth figures we should have because of the trade tensions between the U.S. and China," Le Marie said.

"I want to be very clear, a trade war would mean an economic crisis all over the world, and especially in Europe," he told CNBC's Nancy Hungerford.

Le Maire isn't the only European official concerned about the trade tensions. Pierre Moscovici, European commissioner for economic and financial affairs, taxation and customs, expressed the same sentiment.

"We are of course concerned by the trade tensions (between the U.S. and China) ... because we are the most open economy in the world," said Moscovici. "That's why we are so attached and it is one of our values to free economy, to open economy, to free trade, to multilateralism, that's why we're so reluctant against protectionism."

Moscovici emphasized, "The trade tensions is the worst threat to the world economy."

Le Maire said that, during a recent meeting with U.S. Treasury Secretary Steven Mnuchin, the American official suggested he wants to avoid escalating the trade war. That will depend, however, on the results of the highly anticipated meeting between Chinese President Xi Jinping and U.S. President Donald Trump later this month.