Now I have not seen the text of the treaty and if its only for small arms trade then it should not effect our personal arms but if the text includes the small arms bans they have talked about in the past then we will have a problem and the fight on this will be over the interpretation of the underlined portion of Article 5 of the US Constitution. (see below for the referance)

Some say that this means any treaty the Fed's sign can overwrite the US Constitution and others believe the words as they are written, that this is talking about States and the States Constitution and not the US Constitution.

Article. VI.
All Debts contracted and Engagements entered into, before the Adoption of this Constitution, shall be as valid against the United States under this Constitution, as under the Confederation.
This Constitution, and the Laws of the United States which shall be made in Pursuance thereof; and all Treaties made, or which shall be made, under the Authority of the United States, shall be the supreme Law of the Land; and the Judges in every State shall be bound thereby, any Thing in the Constitution or Laws of any State to the Contrary notwithstanding.
The Senators and Representatives before mentioned, and the Members of the several State Legislatures, and all executive and judicial Officers, both of the United States and of the several States, shall be bound by Oath or Affirmation, to support this Constitution; but no religious Test shall ever be required as a Qualification to any Office or public Trust under the United States.