The original Mac 400K single sided diskette was based on a SONY mechanism that crammed more onto the diskette by varying the speed of the drive. No other manufacturer copied that idea. Later, the two-sided version held 800K. PC equivalents (without the variable speed feature) held only 720K and neither drive could read the other's data.
The FDHD (Floppy Disk High Density), built-into Macs after the Mac II line and optional on some of them, could read and write 1.4 MB diskettes in both Mac and PC format. In addition, it could read and write 720K (PC format) and 800K (Mac format) diskettes.
External USB diskettes are PC-equivalent drives, and can read and write 1.4 MB diskettes only.
There are two distinct types of diskette media. They use different oxides, and are NOT interchangeable. Do not even think about punching out an extra hole or taping over the second hole to "fool" the drive into using the other diskette type. Your data will be unstable and disappear quickly.
The Mac will read and write Mac and PC and other formats right out of the Box.
The PC will read its own format, sometimes. As far as PCs are concerned, other systems do not exist. If you need a PC to read it, the diskette must be formatted for a PC. [System 7 and later Macs will happily store their files on a PC-formatted diskette. Older systems must have just the right extensions in place and active.]