Sigrid de Vries said: “2020 has been an incredibly challenging year for the world, and the remaining weeks will not change that picture. The fall-out from the US elections, the cliff-edge scenario posed by a no-deal Brexit, the second wave of covid infections and the related restrictions to economic activity to help contain the spread, and renewed incidents of fundamentalist attacks on human and democratic values: all of these ask for leadership and clear directions to strengthen the resilience of our society.”

The impact of the covid crisis on the automotive industry has already been severe. Since March, a loss of over 100,000 jobs has been announced, half of which are suppliers.

Mr de Vries added: “Relations between Europe and the USA are expected to improve with President-elect Joe Biden taking office in 2021, but Donald Trump still has some 70 days to cause tension on the international scene, whether by his own actions or by others misusing the void in direction and diplomacy for their own interests. This may contribute to further uncertainty in the global economic outlook.

“In the meantime, businesses will try to understand the future President’s intentions in the areas of global trade and climate policy. The return of the US to the Paris Agreement on climate would be welcome, but same as for the EU, the question for the US will be in how to achieve the ambitions: technology openness and coherent policies for energy efficiency and energy carriers across all sectors will be crucial.”