> US typically gets the cheaper and worse option (less safe)

Yes. EU has the precautionary principle: you may market the product after documenting its safety. In the US, it’s often the other way around: you can market the product unless/until someone can show it to be unsafe.

This is often a point of conflict e.g. when negotiating free trade agreements between US and EU, as the US often sees this as a technical barrier to trade and protectionism.