The U.S. has convened the first dispute panel under USMCA. The panel will consider U.S. complaints regarding Canadian tariff rate quotas for dairy products ranging from milk to ice cream. A wave of other disputes in other sectors are following behind, making this case a potential precedent for negotiations and outcomes. U.S. exports of dairy products to Canada climbed 16.4% year over year but Canada only represented 4.7% of total U.S. exports. The growth was also likely flattered by higher milk prices, shown by a 23.2% surge in milk powder prices in April versus a year earlier. Mexico me...