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What he is doing is largely in reponse to increasing protectionism by other countries. Examples:

US "web" companies must now store EU data in Europe. Any foreign company that wants to compete in Europe needs a European office and datacentres now. Good luck getting European customers for a US startup now.

China is notoriously protectionist. They manipulate their currency exchange rate, engage in market dumping to hurt competitors in other countries, require foreign firms to have a Chinese "partner" which is more like a parasite that steals money and IP.

There's many more examples. To a certain degree the US government has a job of protecting US businesses just like it protects it's citizens.

For important resources like steel and rare earth elements, US businesses have been driven out not because it's so expensive but because foreign countries heavily subsidize the industry and create artificially low prices. "Bringing the jobs back" will work but only if the US govt retaliates with import tariffs or subsidies of its own