Do we have too many restrictions in the US? Of course, and the should be eliminated. That wont solve the problem though. Not as long as we allow nations with less then dubious standard and Companies that operate within them to dump thier junk in our markets.
Will costs go up? Sure. But all we are doing now is getting cheap prices on cheap goods and effectively dumping our waste NIMBY ...
It also is clear that simply imposing a tariff on Chinese goods won't help America's Economy, especially in the short run. TANSTAAFL being immutable, it is the Chinese citizenry currently bearing those costs you mentioned.
The sad truth on the slave labor is like the sweatshops of the early industrial revolution, they do provide a better (only in the extreme relative sense of the word)existence than being out of work and starving to death. Our companies provide the cheapest foreign aid. It's thanks to American companies, among others, that wages and incomes have been rising in China. As the excess supply is employed the wage rises, but the adjustment process is slow.
They don't call it the dismal science for nothing.