The new USMCA doesn't have any provisions to solve the dispute over steel and aluminum - 25 per cent tariffs on imports to the us were introduced this spring and summer.
Intellectual property provisions will be strengthened under this new agreement, extending pharmaceutical drug patent protection to 10 years.
The Progressive Conservative government said it will be speaking with industry representatives to determine the impact of the new trade deal.
He says this will be good news for American farmers, including those in Texas, because they will now be able to export more dairy products up north.
"I'm looking for financial support for farmers but also ensuring that we maintain family-run dairy farms in Ontario", he said.
"The concessions amount to very small increases in the quantity of products that could come into Canada without facing the high border taxes that are in place", said Cardwell. Some of those farmers complained that they couldn't export to Canada, even though that might only be a temporary fix for their production problems.
He said that there is "no political necessity to keep Canada in the new NAFTA deal".
The organizations said they plan to continue reviewing the proposed agreement as it works through the process. "There won't be any immediate impacts but if an American product is coming into Canada, it's going to shrink the market that we have to sell our milk in".
Trudeau didn't offer a compensation dollar figure, but in a video posted to YouTube, Marcel Groleau, president of Quebec's farmers' union, pegged the estimated loss of revenue for Canadian dairy farms from USMCA and previous trade deals at $480 million.
Since talks began more than a year ago, it was clear that Canada and Mexico would have to make concessions in the face of Trump's threats to tear up NAFTA, and relief was palpable in both countries on Sunday that the deal was largely intact and had not fractured supply chains of weaker bilateral agreements.
Trudeau spoke with reporters, along with Foreign Affairs Minister Chrystia Freeland after landing the major trade breakthrough last night, just before a USA -imposed deadline. "I can certainly see the Canadian dairy farmers' side of this".
Trudeau said he knows there is anxiety for dairy producers but also implied things could have been a lot worse.
"The state's agricultural economy greatly benefits from trade and the relationships with our neighboring countries", Holte said.
Eliminating that class would allow processors to become more competitive and potentially give grocers room to bring down prices, Charlebois said. "Trade is important to us, but trade with Canada is not the biggest worrier". "It sure seems that the Americans and Donald Trump are more interested in looking after agriculture in their industry than the Canadian government is looking after, particularly the dairy industry in Canada", said Haasen.
The treaty must be ratified by Congress and the legislatures of Mexico and Canada.