One point I don’t see discussed much is how American physical goods companies currently don’t really have access to the huge bottom chunk of the price pyramid. This limits the benefits of scale, and makes their products more expensive than they would be otherwise.
Right now if someone starts a small physical product company in America, they pretty much have to target people with excess discretionary spending ability. Once they go for the lower part of the pyramid that is much more price sensitive, they get killed by foreign competition on labor and environmental compliance costs that the American company has to pay and the foreign company does not.
If American manufacturing ever does come back, I would expect prices to come down significantly simply due to again having access to market scale.