Yep, that's exactly why i think it's a scam in a big scale. Sure it depends on the country how much value added or how much the product needs to be made in that country but it's always relativly little. Just selling the same china stuff with inflated prices to customers who think they are supporting local production of the goods.
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Still i think if most of the materials and stuff is made in china, just assembling the stuff in different country does not change the fact that it's still made in china.
I just read about a project one company in my country is doing. They just straight up said that there are not enough textile makers in Europe to change the manufacturing here. They do plan on changing most of the assembling to Europe but that does not make the stuff European in my books. It's a good start but the materials are still chinese.
When we can make stuff without needing to import stuff from china we are at satisfactory level of manufacturing. Excluding materials that are actually impossible to make here.