Signal Critical Imports and Supply Chains Strategy published January 2024

Summary

In January 2024 the Department for Business and Trade published the Critical Imports and Supply Chains Strategy. It sets out five priorities: building government expertise, removing import barriers, responding to global supply chain shocks, deepening international collaboration and strengthening partnerships between government, business and academia. The aim is to build resilient and strategically important supply chains. The department has also set up a Global Supply Chains and Economic Security Directorate to lead cross-government action on critical supply chains. The report also cites the National Semiconductor Strategy as helping high-tech sectors prepare for supply shocks, and it suggests that new trade ties that reduce reliance on unstable nations could open markets and lower costs.