Executives from major international banks and corporations are heading to Washington this week to make their case against a provision in President Donald Trump’s budget bill that would raise taxes on U.S.-asset-holding investors from countries with tax policies Washington deems discriminatory. (Financial Times)

Talking point: The lobbying push adds to the growing chorus of concern over the provision, which Wall Street analysts have said could further weaken bond markets and the U.S. dollar, and discourage foreign investment. Canadian companies, pension funds and individuals who hold U.S. securities directly would be hit by big tax bills if the measure goes into effect. About 70 members of the Global Business Alliance, which represents foreign-owned companies in the U.S. including Shopify, Toyota, SAP and Sony, have meetings scheduled with Congress this week. Members of the Institute of International Bankers—which represents some of the world’s largest banks, including most of Canada’s Big Six—also have meetings planned with Treasury officials and Republican members of the Senate banking committee to argue against the measure.