If both start offloading at the same time, it's a serious credibility blow to U.S. fiscal stability.
It becomes harder for the U.S. to fund itself without offering higher interest rates — which chokes the economy and spooks markets.
So yes — Japan's recent bond selling, paired with China's long-term reduction, adds weight to the idea that the world is losing confidence in U.S. fiscal stability, and it could very well have been the trigger for Trump's sudden tariff pause.
