"The dairy industry is facing the same challenges the rest of the economy did, circa 1988, on the eve of the original Canada-U.S. free-trade agreement. The companies that invested heavily and positioned themselves for a larger market thrived."

Actually, the complete opposite is true.  Industries protected from US competition (banking, telecommunications, dairy, airlines, etc.) have thrived.  All the industries that were left unprotected have been swamped by US imports and have disappeared.