Canada opened its dairy market. But by how much?

Dairy was a big sticking point for Canadian and US officials as they renegotiated NAFTA.In the end, Canada agreed to open up its market and allow American farmers to sell more milk, cheese and other dairy products north of the border. It also agreed to end a pricing system that limited imports of certain milk ingredients.President Donald Trump is calling the deal a win for US dairy farmers, and Canadian farmers are angry. But some experts are downplaying the impact."Honestly I don't think it's going to have a terribly noticeable impact on US dairy farmers in general," said Andrew Novakovic, a professor of agricultural economics at Cornell University.Under the new deal, which will be called USMCA, Canada will set new quotas for dairy imports from the United States. It will still put tariffs on dairy products that exceed the quotas, ranging from 200% to 300%.The new quotas are expected to give American dairy farmers access to up to 3.6% of Canada's market. Estimates suggest this will increase exports to Canada by $70 million, or 0.0003% of US GDP, a BofA Merrill Lynch Global Research report said.