China’s 10-year sovereign yield sits at roughly 1.82%, against 4.46% for the US Treasury equivalent. Borrowing in renminbi is approximately 60% cheaper than borrowing in dollars at current rates,

US treasury is regulating interest rates in a balance between controlling inflation and keep the currency stable.
When interest rates are so high and inflation is still above the desired level, it’s a sign of pressure against the USD, and a weak economy. Or at least an economy that doesn’t have much trust. High interest rates attract money but lowers investments as investments become more expensive to finance, and high inflation lowers consumption.

I just heard a few days ago that the use of the USD as a global reserve currency has dropped significantly since Trumps “liberation day” maybe as much as 30%! Which is insane if true.

With this high interest rate, it will be very expensive for the federal government to finance the federal debt. And with the USD slipping as the global reserve currency, USA can no longer just print the money to pay it off, without creating more inflation and weakening the US dollar.

It seems USA is about to wake up to the reality of not being the global leader, and now having to pay their bills like everybody else.
The tariffs and sanctions USA made towards the world and especially China, is hurting USA way more than it is hurting the rest of the world.