Actually I think he's suggesting allowing cars that meet current European standards to be allowed in. That would mean they don't meet current US requirements. Not adding new requirements.
He's "complaining" so that they can "instantly" have cars they can sell here. Do you remember how long the Smart was going in gestation for the U.S Market?!? A very long time. Do we see really quick turn-arounds for other Honda or Toyota vehicles in other markets? Not really. It just takes time to meet these requirements even if no new engineering needs to take place (currently unlikely).

At least that is how I read his comments and I don't think it would be a bad thing. If nothing else having the flock of "great" European cars we could never have available for sale here would quickly weed out the junk we don't really want to buy but claim we would due to the "grass is greener" mentality.