Some US manufacturers are partly to blame for their own demise, through slipping quality control.
The Crescent-type adjustable wrench has long become one of those generic designs, copied by manufacturer's around the world. Around 1970 I saw Japanese makes (Fuller etc.) displacing US brands and started a collection of the wrenches as sort of a canary-in-a-coal-mine indication of US manufacturing health. Pretty predictably, each new manufacturing nation on the rise (Japan, Poland, Spain, Mexico, Taiwan, China etc.) would try to export their adjustable wrenches here, before moving up the value chain. Along the way I probably picked up examples from two dozen nations, along with most US brands.
So, two data points. There was the US maker that promised a wrench that would open to the next larger size (e.g. a 6" wrench that opened as far as an 8"). The notion was that superior metallurgy in a US tool would allow the added stress. The reality was that I had to buy three different samples did get one that would open as far as the package boldly claimed.
The second example was in a Sears store about a decade ago. Side by side US-made Craftsman and Chinese-made Companion wrenches. The Craftsman branded one was 5x the cost, more poorly finished, with a looser fit of the jaws and adjuster. The cheap Chinese one not only looked better in every respect, but had an opening size scale as an added feature. Could be the steel was better in the US example, but one could never tell from either looking or the packaging. A decade ago it was clear where the next wave of tools would be coming from.
Beautifully made tools are still available these days, but they're more likely to be made in places like Germany than the US.