American brands often already enjoy significant advantages in reputation (not to mention actual quality), in part due to regulations and business norms in the states. This only strengthens that.
Moderately more expensive products that can be expected to be operable for substantially longer is a big win for the overwhelming majority of society, including future generations (in more ways than one). It remains to be seen if that is the actual result of legislation like this, but it is certainly a noble goal for society and worth attempting.