Chile benefits more from making trade agreements with Northern countries than from trading freely on its own. The Free Trade Agreement of the Americas (FTAA) helps most member countries but hurts the European Union. Overall, global free trade is much more beneficial than the FTAA. The researchers used a model to show that Chile gains a lot from making regional trade deals, even though some countries lose out. The study is part of a project looking at how trade agreements affect development and reducing poverty.