** Shares of U.S. asset managers fall in premarket trading after China's finance ministry said on Friday it will respond to President Donald Trump's tariffs with additional tariffs of 34% on all U.S. goods from April 10
** Apollo APO.N down 7.8%, Blackstone BX.N falls 6.1%, BlackRock BLK.N drops 4.7%, and Charles Schwab SCHW.N slips 5.8%
** Asset managers could see a drop in fees, which is often tied to the value of assets under management, if trade war fears, economic uncertainty and inflationary pressures from tariffs cause a prolonged downturn in the markets
** "After a strong finish to 2024, the escalating trade war and federal spending cuts have increased the risk of stagflation," BofA analysts said in a note
** Brokerage said that management fees will be up in Q1 2025 since correction occurred in month 3 of the quarter, but also flagged that fees should be down in Q2 if markets don't rebound
(Reporting by Ateev Bhandari in Bengaluru)
((Ateev.Bhandari@thomsonreuters.com; ))
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