>> But even repatriating production has a small long term effect as automation continues to grow. No point having a $16 minimum wage for a role that no longer exists.

That's certainly true and it tends to give employers monopoly salary pricing power where jobs don't require special skills. Witness Walmart and McDonalds.
Good management techniques aim at reducing the skills required to bare minimums.
In fact, that's what I've been doing during my whole career and still do now.
The minimum wage sets a limit on the monopoly power of the employer for social, not economic reasons.