Every large company I know of considers the US to be a “high cost” place to do business. Compared, of course to China, India, Mexico, Czech Republic, Vietnam, or wherever. And there are no barriers to moving jobs anywhere in the world, it’s a business decision.
Federal minimum wage laws and other mandates establish a de-facto cost of doing business in the US. Because states are bound by these laws equally it’s difficult if not impossible to convince a company that some areas can be economically competitive. Abolishing the federal minimum wage would restore competitiveness and make it possible for some lower cost areas of the US to compete more effectively to keep jobs at home.
Slave labor is cheaper. It has nothing to do with greed. Nothing.