Thats what we do now."Made in the USA". What we produce is component wise and small so the sell price is not much different but the margins for us are smaller because of labor. Soon we will be large enough that we will automate everything and instead of needing 8 people we'll need 2.
The fact of the matter is, a lot of the U.S. made stuff is of much higher quality. People refuse to believe that, but it is true.
The other thing my friend did is put a lot of time/effort into R&D (not hard since he's an engineer) and tried to stay a step ahead of the Chicoms.
But this is a tough fight, so good luck to you!