However, this perception is slowly changing as rising overseas labor costs and higher shipping costs are forcing U.S. companies to bring manufacturing back to the states. This is being touted as the American manufacturing renaissance.
In fact, this trend is so powerful that even Walmart, the leader in everyday low prices, believes "Made in the USA" is a smart and profitable strategy.
Citi analyst Deborah Weinswig recently met with Walmart management. Here's what she took away: