My personal take - half the time we buy something "Made in China" it lasts half as long as items "Made in America" when we can find it.
Might as well pay for American goods and get quality. For example, I can remember many years ago a nail could actually be driven into a board without bending. And, screw head did not twist off with minimal torque.
Far as raising prices, seems every little news-squeak about any issues - oil spill, fire, whatever - brings with it an auto price-raise even for goods already in the delivery system. Then we hear the excuse, "It cost more to replenish." Well then, the price rise should come THEN, not NOW.