You may be right. Companies that go overseas tend to blame regulations and taxes. Because they fear a backlash if they admit they are seeking cheaper foreign labor with the intent of selling their products to Americans.
http://www.afr.com/p/national/toyota_exit_changes_the_face_of_OA7WtCEFbo8AyVOBx3361M
Toyota exit changes the face of industryCiting multiple pressures including high
local costs and an unfavorable dollar, Toyotas global president, Akio Toyoda,
said Toyota would close its manufacturing operations in 2017. Ford and GM Holden
have already declared they will shut down their car-making businesses in 2016.
end snip
Right you are. Companies did quite well with American labor and regulations before job exporting trade agreements resulted in the wage limbo to get lower and lower labor costs.