President Trump is betting that the threat of stiff tariffs on low-cost countries in Asia and elsewhere will pressure American companies to bring manufacturing—and jobs—back to the U.S. But high U.S.

WENZHOU, ZHEJIANG - MARCH 03: People work along a shoe production line at a leather shoe factory on March 3, 2006 in Wenzhou of Zhejiang Province, China. Wenzhou is one of the major shoe production ...