The investment in capability that is necessary to build the next generation of manufacturing capabilities in the US is simply not within the public imagination.
If the US changes their environmental regulations to match China, lowered their tax-to-GDP ratio to match China, changed their worker regulations to match China, and then opened up free immigration from Mexico for cheap factory labor then the "free" market would likely take care of opening up quite a bit more manufacturing.
It will never happen because there's too many industries and jobs that only exist because of all that regulation and will fight tooth and nail to avoid a short term haircut.