Only three weeks ago I bought a ratchet wrench branded Stanley from Lowe's that was identical to a Craftsman wrench I had bought almost 50 years ago at a Sears store. That wrench worked well for ten years until it was lost, or stolen. This new wrench works perfectly and the finish is impeccable, I don't care where it was made. The Craftsman design is more durable than the Snap-on design in my experience, and both brands are better than the tools you can buy at most auto or big-box stores.

China can make products to any level of quality and finish. If you want cheap, you get cheap. If you want good and can pay for it, China can make good. Let's not deceive ourselves about that. But let's say that a foundry-forge in the US starts making those tools - would the jobs come back? No, because automation and CAD/CAM have cut labor needs by a huge amount. The dollar is strong, and that means retailers competing on price will import, unless the US can make it not only better, but cheaper.