I have been part of many outsourcing projects over the last 15 years, and I can count on one hand the number of those that have been acceptable.
Outsourcing requires a completely different style of management than of a local team of developers. I have had better luck outsourcing art and animation tasks. But even there cultural barriers pop up all the time.
You can save money by outsourcing, but if you try to minimize expenses at all costs it shows in quality.
Having teams all over the world is a very different cost and business model from outsourcing.
With overseas teams they tend to either be salary matched to market and the quality not so great or good wage even by US (but maybe not SV) standards but getting the very best people.
Outsourcing is much more of a mess because markup is ~3x.
60k$/year easily gets you top talent in places like eastern Europe and Asia - that's like entry level for the US, when you equate for skills I would guess it's almost always a 2x difference even in low cost US places.
The biggest thing about US was that it offers highest wages and it's a center for tech globally so it's really easy to attract skilled immigrants and so top people often emigrate - if you crack down on that well you suddenly made outsourcing better both because cost and the top talent availability.
Compared to that moving software development to another country is much simpler. It is difficult to get it right, but it is simpler to move things like specifications and code than containers of raw materials and goods.
It is actually the other way around regarding manufacturing and software development.
Software development is high-growth, quickly changing, highly skilled, high levels of communication, transferable, low capital, and doesn't scale well.
Manufacturing for the most part is steady demand, slow rates of change, low-moderate skill, low communication, not very transferable, high capital and scales really well.
This leads to software dev being very difficult to outsource without being out-competed.
E.g. I am making around 35k Euro/annually, before taxes. That is with 15 years of experience, with a university degree & a PHD in comp. science. And that is not at all rare if you are not in finances or machine learning (or whatever is the fad du jour at the moment) where the salaries are very high. But even there 50-70k+ are not that common. And, of course, my living costs are likely quite a bit higher than yours (well, perhaps except for large cities like Moscow).
UK is similar unless you are working for the London City bankers - I have been interviewing few years ago for a position with a big company there and they have actually offered me even less than what I am making now after taking into account higher costs of living in the UK.
Actually the French taxes aren't that high, the killer are the extra expenses that the employer has to pay for each employee - social & health insurance, various solidarity contributions, etc. I am costing my employer about 2x as much as what I am actually taking home. From that I still have to pay taxes, which are about one and a half of my monthly salary in total (the French pay taxes themselves for the previous year, unlike most of Europe where the tax is deducted from salary already and you only get a return if you paid too much).
Honestly companies have tried, and keep trying, but the work keeps coming back to the US.
Hint: Its because software engineering is a lot more than cutting code.
If you go even more to the East - Ukraine, Russia, China, India, etc. you can get very highly qualified people for even less, happy to work on a project for you.
Software is one of the easiest things to outsource/offshore, unlike manufacturing or services. So protectionism is only going to end up harming US in this regard.
Of course, that doesn't mean that the H1B "indentured servitude" system for importing cheap foreign workers shouldn't be fixed. But imposing minimal salary is not the way to do it, IMO.