Great news!
unfortunatly i do not believe it will stop the trades.
look at the tiger or the rhino.... the monetary value of these species will go up and sadly they will be decimated.
I have seen how they treat wale sharks, and it is not nice at all. the fishermen dragged it with a rope (that goes in the mouth and out the gills) behind the boat until they got to international waters to sell it alive to chinese boats. it is sad but the reality.
i have witnessed here in Bali 2 months ago a green turtle (protected) beeing strapped so they could sell it alive. 1 turtle is 6 month worth of salary here, and if we say something, we could get killed.... police and governement are all corrupted unfortunatly. No wonder why we can't see them anymore while scuba diving.
Protected status is the firststep, and it is awesome news. hopefully more actions will follow, as would really want my kids one day be able to see all the beauty nature has to offer as i have.

james scuba diving instructor, underwater photographer.

baby wale shark on a crowded dive site in thailand.
https://web.facebook.com/JameszedingFRog/videos/10150997484553361/