I could be wrong, but I believe this has been happening for a number of years now for economic and security reasons. American businesses are "re-shoring" on their own because they recognize that it is a good idea.
More and more I think I see the Biden Administration look around for what is already happening and then they say "We did that. That was our idea."
Related, they recently admitted that a recession is coming, but they phrased it sort of like -- "In order to bring down inflation, we plan to have lower economic activity next year. It's our part of our master plan."
Started during the Trump years
That’s basically what FDR did. Many parts of “The New Deal” were already underway under Hoover.