Really? I thought it was labor costs, the costs of U.S. regulation, and potential litigation costs.
The disparity between the cost of a product from China, India, or any LCC (Low Cost Country) is driven by all the elements you site, however the portion of the disparity attributable to labor is very small and often offset by logistics costs, many times the dunnage alone offsets the labor cost. The regulation (includes taxation) is the largest and by addressing this the US good could become total cost competitive very quickly.