I find the idea of getting back manufacturing is funny mainly for three reasons:
1) Costs. How much money and time does it takes to start building a fab and getting it online and ready for production before you start to get a return for your money? Given the current global context, long term plans that would take years before giving back material results are not the type of things that usually attract investors. In China they are doing it because it is heavily state sponsored. Private investors in the western world will not even bother with that much uncertainty, and those that do are for sure because they want a few press releases to stroke someone's ego, and you know who I'm talking about. So I suppose that if you're serious about getting manufacturing back, you will have to spoonfeed resources to private corporations to do it, with a lot of tax money, rebates, or some type of kickbacks... How is that Foxconn plant is Winconsin doing?
2) Backdoors. On the current political climate, I fear less a chinese, taiwanese or russian backdoor in Hardware or Software than one from USA, more so if it was living in that country. Is amazing that on the post-Snowden world where we know all the shenanigans that your intelligence agencies do, that there are people that aren't measuring the risk of having a physical location than can be easy to interdic for a goverment that is currently leaded by a wannabe dictator. And you want to give him the potential for more power when you're forced to use Made-in-USA silicon? I can guarantee you, from a security standpoint, that it will backfire. Maybe your corporations will be safer from industrial espionage, but the little guy has a significantly higher risk of political opression.You have a president that said multiple times "jokes" about that. This will help him to make them a reality.
3) Consumers. Yeah, manufacturing locally may make a few nationalistic/antiglobalist guys happy. Will they be as happy when they have to open their pockets deep enough to pay more for these products? The main reason why all those global corporations did all its outsourcing to Asia is because labor and logistics are cheaper, and the infrastructure is already there. When you have to pay out of your wallet to build from scratch all that, which is something that will take YEARS to do before getting some sort of parity, will you still do it? Consumers will not be happy, and Argentina can tell you something about trying to create an artificial protected environment by putting high import taxes to let some local manufacturers grow, with inferior products that were more expensive, and letting the consumer pay the blunt of it. I want to see the faces of these guys when they figure out that they will be paying themselves the cost of local manufacturing. Or do they expect the investors to do it at a loss? How did the taxes that affected washer machines go? Because I recall a lot of people complaining than your local manufacturers actually jacked up prices now that the outside competence was more expensive.
Remember that once some narcicist sociopath is gone and the world returns to do business as usual, the reasons that made the high costs of this idea reasonable will not be there any longer.