Eh? That’s such a stretched definition of colonialism that it ceases to have meaning.
Firstly, This is how things are being done now - post colonialism. America has many laws and drives to avoid labour from sweatshops. This was a whole thing, it may not have been the most effective, but it was a political force that drove change.
Foxconn factories having workers commit suicide and place safety nets around buildings was a huge issue for Apple, and it resulted in changes to working conditions.
And as I mentioned before, the FDA inspects factories around the world to ensure that something sold within America that has the FDA approved label actually meets standards.
The idea is feasible I just don’t know how effective it will be. Political will can be found in America, and this affects only foreign outsourcing while supporting American workers. You don’t need political will in other nations.
On top of that, it moves competition away from a race to the bottom, which reinforces worker rights. If worker rights in India and America are at parity, then the attractiveness to move to America changes as well. America will remain attractive because of standard of living.
It’s an issue for outsourcing, and firms that buy outsourced services, but not that much of an issue.
One issue is that worker rights in America are kind of a low bar.