According to a report from the Brazil Arab News Agency (ANBA), the Brazilian government is to set up an emergency industrial policy for five sectors, including textiles and footwear, which have been negatively affected by the depreciation of the US dollar against the Brazilian real.

As the dollar fell below 2 reals for the first time in six years, the government announced that it will implement a policy to assist the textile, shoe, furniture, naval and automotive sectors, which are struggling in international markets due to the current exchange rate. This will include a reduction in taxes and fast-track financing through the Brazilian Development Bank (BNDES). According to the Minister of Development, Industry and Foreign Trade, Miguel Jorge, the government is also considering the possibility of increasing import tax on some products to protect domestic goods.