True - but the most direct component of the price of things is what they cost to make and labor is a key component of that cost.
Exporting US food products for processing in China, particularly meats, then bringing it back for sale and consumption in the US never made sense to me. Two trans-oceanic shipments are less than the labor cost differential? It’s just bizarre. I can’t help but envision how well that’s going to work in the event of a large scale natural disaster or war.