I think your memory is foggy. It was TG&Y and K-Mart that led the charge in that business, not Walmart who just did it better. Small towns that were supposedly ruined by Wal Mart had JC Penny's, Sears, A&P grocery's, Safeway's, Western Auto's and the list goes on shutting out small independents. Many were owned by locals, but they wern't 100% independent.
At one time Walmart did have signs in they're clothing dept.promoting American made, but they had to compete so they didn't last long.
As far as Chinese fishing tackle, I don't remember when BPS brands wern't made in China.