How would you regulate items made in countries like China? How would it even work? How would you compel them to comply and who would police and punish non-compliance?
The same way we regulate everything else that comes out of China, which isn't perfect either. 'Goods sold in or imported to New Zealand must comply with standards XYZ under threat of ABC punishment.' But if we only made laws that we were sure would be 100% effective we wouldn't have much of a civilisation, would we?
TBH, if we did that right, all the $2 shops full of cheap Chinese junk would fold overnight, but I don't see any particular downside to that, personally.