"Canada recently made concessions in the Trans-Pacific Partnership and a trade deal with the European Union that also opened up its dairy market".
They point to the rising trade tensions between the United States and China as the likely impetus behind the provision.
The Trump administration's focus on autos was in part to address the flight of jobs to Mexico, but also the president's repeated complaints about the US trade deficit with Mexico and other countries.
"I don't see a lot of investment or jobs coming back here as a result", Dziczek said.
He says dairy farmers will be compensated to make up for access to 3.59 per cent of Canada's market by American dairy producers under the new agreement.
"NAFTA created a somewhat free trade zone, where the USMCA creates a true free trade zone in North America, other than specific products", said Matt Will, associate professor of Finance at the University of Indianapolis, talking to our partners at Inside Indiana Business.
The issue for Canada dairy farmers is deeper than the NAFTA renegotiation, however.
While under NAFTA, Chinese companies were able to evade tariffs by selling components to Canada or Mexico, then shipping those products tariff-free into the US market, trade experts have also pointed out that the new agreement with Mexico and Canada includes a provision that targets China's bad practices. "I've always felt that this would be a trade coalition of the willing to send a message to China that they've got to shape up and start behaving like a citizen in the new world of trading", Kudlow said.
The United States-Mexico-Canada Agreement (USMCA) replaces the North American Free Trade Agreement (NAFTA) that has been in effect since 1994. Trump had threatened to proceed with Mexico alone if an agreement with Canada could not be reach by Sunday.
The Canadian dollar, also known as the loonie, ended Monday at 78 cents compared to the USA dollar.
Trump said he'd like to see it signed by the end of November.
Li Guangman, a freelance writer and columnist for Chinese news opinion portal CWZG, wrote that Mexico and Canada were simply "corpses that have been killed by the big bat of the US trade war" and China "should not show any sympathy towards them [Mexico and Canada]".
Canada also won protection from any future USA auto tariffs, but the details of those protections were not clear.
The US made a deal with Mexico in August, but relations with Canada over the trade pact had become increasingly strained in recent weeks.
While changing NAFTA and bringing down United States trade deficits was a top Trump campaign pledge, Sunday's agreement largely leaves the broader deal intact and maintains supply chains that would have been fractured under weaker bilateral deals. The revisions include changes on auto-sourcing rules as well as new or updated provisions on digital trade, financial services and other areas of commerce.
The new agreement provides protection for manufacturing jobs in North America, while improving market access for a number of industry sectors. "It's more about the outcomes and the implications, I think, for most people", he said.
"They haven't been given the sound bites, I guess, but you had some Democrats say this is really fantastic if he really got all of that".