The news of the UK actively working on trade deals with individual US states indicates a proactive approach to strengthening economic ties, which could benefit UK companies. The EWU ETF, which tracks UK equities, may see a positive impact as the trade deals could lead to increased business opportunities, especially in the highlighted sectors of space and financial technology. The relevance is high as the ETF directly represents the UK market, but the importance is moderate because the deals are still in the negotiation phase and not yet finalized. The confidence level reflects the potential but acknowledges the uncertainty at this stage of negotiations.

The SPY ETF, which tracks the S&P 500, includes companies that could benefit from increased trade with the UK, particularly in the mentioned high-potential sectors like space and financial technology. The relevance is moderate as the ETF encompasses a wide range of US companies, not all of which may be directly affected by the trade deals. The importance is moderate because the impact of the trade deals will vary across different companies and sectors within the ETF. The confidence level is based on the positive nature of trade deals but tempered by the broad diversity of the SPY ETF and the early stage of the trade deal discussions.