By Guy Taylor The boss of steel giant ArcelorMittal’s UK arm has warned the new government’s industrial strategy must do more to protect the steel industry’s supply chain. Labour on Wednesday unveiled a £2.5bn steel industry fund and pledged £500m in subsidies to the owner of Port Talbot, Tata Steel, to secure the future of the embattled South Wales plant. Unions have since criticised the deal for failing to secure around 2,500 jobs that Tata is likely to cut in the coming months. “Whilst we clearly welcome [Wednesday’s] announcement around a new industrial strategy for the steel sector, this …