Hi Slim,
Yes, the costs of labor, insurance, the marketplace expecting ever better prices and good ol' corporate greed has moved many American manufacturers of electric tools to produce them out of the country. Tis a pity.
While I cannot answer concerning where good European tools are made, I know that over the years quality has gone down hill for many of the good old Euro tool makers. Some on the continent have simply vanished like many do.
I am in the same position as you. While I relish the commissions that afford me the what-is-now a luxury of working primarily with hand tools, there is a mix of the electron burners. And perhaps rightly so. Repitition of tasks come to mind as a great use of machines. As well as, well, the things I would just as soon get through like when I have to sand. And I do like making mortise and tenons with the WoodRat, the stand mortiser, bandsaw or whatever I decide to use at the time.
Perhaps this can be viewed as an anti-American sentiment, but I could mostly care less where they are made--as long as they provide a certain amount of dependibility and ease of use. I too am a consumer.
The loss of jobs to oversees while unfortunate is mostly a near romantic longing for quality American products, imho. The gain and loss of jobs has always been with any country and is a function--like always, of economics and marketplace perception.
Well look at me. Rambling on like this. Guess I better go pick up the shop.
Mike