At the U.N. on M

onday, over 60 nations signed the first international treaty to regulate the global arms trade, after seven years of negotiations, and sponsors were taking a victory lap, explaining the impact of a treaty that they hope will stem the flow of weapons that fuel extremists in conflicts around the world.

Angela Kane, the U.N.'s High Representative for Disarmament Affairs, said that it would be a few years before the ratifications would be completed by countries and the treaty would take effect - but that the signatures on the first day of signing was a good beginning.

The U.S. intends to sign the treaty "as soon as the process of conforming the official translations is completed satisfactorily," according to the State Department. But, ratification in the U.S. Senate is another matter.

"The treaty is an important contribution to efforts to stem the illicit trade in conventional weapons, which fuels conflict, empowers violent extremists, and contributes to violations of human rights," Secretary of State John Kerry said.

U.S. ratification continues to face stiff opposition, where it must garner a two-thirds vote in the Senate, where a March vote to oppose the treaty won Senate support.

Republican Senator Jerry Moran of Kansas introduced the concurrent resolution, expressing the Senate's opposition to the treaty, saying that it failed to expressly recognize the individual right to bear arms.

Negotiators anticipated that the treaty will go into effect in about two years and put pressure on many of the nations that have not signed to endorse its procedures.