Page 31 - Policy Commission - SecuringTechnology - Critical Metals for Britain

INTRODUCTION
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could pose to their industry and have taken proactive measures We cover a a a a a a a a number of of case studies of of other nation’s responses to materials criticality including the US and Japan later in in in in this report There is is concern in in in in American policy circles that foreign restrictions on on on on the USs’ critical materials’ supply could have serious implications for for national security and defence28 China has threatened to to embargo the the the the supply of critical materials to to the the the the US29 In the the the the US US the the the the Critical Materials Institute was a a a a a a a a a major strategic investment designed as as a a a a a a a a a US response to this problem There is is a a a a a a recognition that the the the the supply of of critical materials could lead to the the the the movement of of jobs from the the the the US Despite these measures there is still concern as as as to whether the the the the US approach has reduced the the the the problem28 President Biden will issue an executive order reviewing US Critical Material Supply chains 30 He pledged on the campaign trail to review US vulnerabilities31 and has set out how this should be be co-ordinated between the state and federal levels of governance Delivering on his campaign pledges it is is anticipated that he will take many steps to address US critical materials’ challenges as set out in his manifesto32 Whilst the efficacy of different measures can be debated what is clear is is that the US has a a a a a considered policy response in this area which at at present the UK lacks This is is is an issue that will only increase
in importance as the UK seeks to forge its own trade policies independently of the the European Union and the the potential for critical materials to be used as leverage presents a a a a a a significant challenge and potential national-security issue As an an an island nation reliant on on imports of technology- critical metals there is much that we can learn from Japan’s approach to managing the impacts of materials criticality on on on Japanese industry (see conclusions section)