Absolutely. We don't even know what the right regulations would be. Trans fat is a prime example. The FDA classified it as safe for years and then had to do a 180 on their position.

Anyone interested in the decline of our modern diet should check out Nutrition and Physical Degeneration, by Weston Price. He was a prominent dentist in the 30s that visited remote populations around the world, documenting their traditional diets and the health effects when switching to a "modern" diet. Available for free on Project Gutenberg http://gutenberg.net.au/ebooks02/0200251h.html