I'm sure that 2 buck/day guy is well versed in CNC machining. <G>
Obviously products that have a high % of unskilled labor in the content will be less likely to come back.
The key is comparative advantage. Unless trade is corrupted by tariffs or other items that hide true costs such as dollar pegs, then the products will move where it is advantageous to produce it there.
Ask your VP what he thinks now with transport costs going up. Be interested in hearing the answer.