diff --git a/Cargo.lock b/Cargo.lock
index dc4ce2e2f50f9..df1e1c5e246bd 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -5789,9 +5789,9 @@ checksum = "360dfd1d6d30e05fda32ace2c8c70e9c0a9da713275777f5a4dbb8a1893930c6"
 
 [[package]]
 name = "tracing"
-version = "0.1.28"
+version = "0.1.32"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "84f96e095c0c82419687c20ddf5cb3eadb61f4e1405923c9dc8e53a1adacbda8"
+checksum = "4a1bdf54a7c28a2bbf701e1d2233f6c77f473486b94bee4f9678da5a148dca7f"
 dependencies = [
  "cfg-if 1.0.0",
  "log",
@@ -5813,9 +5813,9 @@ dependencies = [
 
 [[package]]
 name = "tracing-attributes"
-version = "0.1.16"
+version = "0.1.20"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "98863d0dd09fa59a1b79c6750ad80dbda6b75f4e71c437a6a1a8cb91a8bcbd77"
+checksum = "2e65ce065b4b5c53e73bb28912318cb8c9e9ad3921f1d669eb0e68b4c8143a2b"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -5841,11 +5841,12 @@ dependencies = [
 
 [[package]]
 name = "tracing-core"
-version = "0.1.20"
+version = "0.1.24"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "46125608c26121c81b0c6d693eab5a420e416da7e43c426d2e8f7df8da8a3acf"
+checksum = "90442985ee2f57c9e1b548ee72ae842f4a9a20e3f417cc38dbc5dc684d9bb4ee"
 dependencies = [
  "lazy_static",
+ "valuable",
 ]
 
 [[package]]
@@ -6107,6 +6108,12 @@ dependencies = [
  "serde",
 ]
 
+[[package]]
+name = "valuable"
+version = "0.1.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "830b7e5d4d90034032940e4ace0d9a9a057e7a45cd94e6c007832e39edb82f6d"
+
 [[package]]
 name = "vcpkg"
 version = "0.2.15"
diff --git a/common/tracing/Cargo.toml b/common/tracing/Cargo.toml
index 33a0f2492f211..e48ab35b90d1f 100644
--- a/common/tracing/Cargo.toml
+++ b/common/tracing/Cargo.toml
@@ -11,7 +11,7 @@ lazy_static = "1.4.0"
 opentelemetry = { version = "0.16", default-features = false, features = ["trace", "rt-tokio"] }
 opentelemetry-jaeger = { version = "0.15", features = ["rt-tokio"] }
 tonic = "0.5.2"
-tracing = "0.1.28"
+tracing = "0.1.32"
 tracing-appender = "0.1.2"
 tracing-bunyan-formatter = "0.2"
 tracing-opentelemetry = "0.15.0"