It's a far more complicated problem than that, with unintended consequences. For example the US government takes very nearly this approach to buying the products they need. In fact a bid will often be awarded specifically on the basis of the fact that the product is manufactured in the US.
Does it make fiscal sense though? The answer is probably not. Not when the US made product is usually 3-5 times more expensive, and sometimes more. Guess who gets to pay 3x times more, or likely 10 times more after the government bureaucracy is through? You do.
I was recently stumped by the fact that I could not recommend a US made flashlight to a friend with the specs similar to what I already own. Why? Because they don't exist, and the nearest ones were 3 times the price.