Players in the U.S. financial world are raising concerns about a measure in President Donald Trump’s so-called “big, beautiful bill” that would raise taxes on U.S.-asset-holding investors from countries with tax policies Washington deems discriminatory. Such a measure would discourage foreign investment, they say. (Bloomberg)

Talking point: Canada is among the countries with tax policies the U.S. deems discriminatory, which means 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. Business leaders have pressed Prime Minister Mark Carney to review the 2024 digital services tax, which is levied on Big Tech companies operating in Canada and is a point of contention with the U.S., in an effort to avoid the measure. Wall Street analysts are concerned the measure could further weaken bond markets and the U.S. dollar.