The correct answer to this open question is the following.
The circumstances surrounding the eventual showdown between Elizabeth's England and Philip's Spain were and exaggerated hate of Protestantism on the part of Philip of Spain, whose kingdom was Catholic, and the controversy generated by the dead of Mar I, wife of Philip, and the ascension to the throne of Elizabeth, who was Protestant. Many people claimed that the throne belonged to Mary, Queen of Scotland.
The long term impact upon the New World was that the Royal British Navy had destroyed the once-powerful Armada of Spain, making Great Britain the dominant nation in the exploration and colonization of foreign territories, strengthening the imperialistic ambitions of England.