Just to clarify - A Trusted User then has MORE privileges than a Jira Product Administrator, but less than a Site Administrator?
You are right as far as I know but the Trusted Users role is not used anymore. The ones that already have that Role will remain having this but I would recommend changing that to some other role site-administrator or project administrator.
"The role "trusted" has been discontinued for the improved user management experience. If your site uses the new interface, you are not able to assign users the trusted role."
You can read more about the Trusted user role permissions here:
https://confluence.atlassian.com/jirakb/what-are-trusted-users-1155494641.html
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