The U.N. General Assembly overwhelmingly approved the first international treaty regulating the multibillion-dollar global arms trade…capping a more than decade-long campaign to keep weapons from falling into the hands of terrorists, insurgents, organized crime figures and human rights violators. The resolution was approved by a vote of 154 to 3 with 23 abstentions….What impact it will have in curbing the estimated $60 billion global arms trade remains to be seen. The landmark U.N. treaty will take effect after 50 countries ratify it, and a lot will depend on which ones ratify and which ones don't, and how stringently it is implemented…The three treaty opponents and many countries that abstained complained that the treaty has too many loopholes and can be easily "politicized." Thy argued among other things that the agreement favors exporters like the United States over importers who need arms for self-defense.