From former President Trump's focus on trade policy and President Biden's $1.2 trillion bipartisan infrastructure bill to companies "reshoring" plants for the sake of their supply chains - and for consumers expressing preferences for American-made goods - manufacturing in the US is poised for a comeback, according to one study.

Still, manufacturing in the US represents a much smaller slice of jobs today than it did years ago.

After manufacturing peaked at near 40% of American jobs at the height of World War II, the sector has seen a steady decline over time, to around 8.4% of employment today. In total employment, manufacturing jobs peaked at 19.5 million in the late 1970s and fell off sharply after 2000 to just 12.6 million today.