There are two main storylines in this trailer. The first has a ship descending over New York City – let’s call it the Space Donut. Peter sees the Space Donut descending and his great power means he has the great responsibility of stopping whatever’s happening and dives headfirst into the action, which we saw in the first trailer:

Tony suits up and goes after him, showing off a super-powered thruster in his latest Iron Man revision. Doctor Strange, another firmly New York-based hero, takes off after them, and they end up running into the human-sized members of the Guardians of the Galaxy – Peter (C’mon, it’s Starlord), Gamora, and Drax. Here, the earthlings start to get a better handle on what’s happening. Gamora informs them of her adopted father’s plans.
It seems like Gamora is going to be a major key to the story in one way or another, as we get a shot of her as a child, holding Thanos’ gigantic purple hand.

Meanwhile, the earth-bound contingent of the Avengers heads to Wakanda. The Vision is in grave danger, as Thaos’ goal is to collect the Infinity stones, one of which happens to be embedded in Vision’s forehead. Here we see Shuri apparently working on the Vision, and that could be after that stone is taken away from him. The Wakandan military is gearing up for a serious battle, and it seems like a big chunk of the movie is going to take place in that fictional nation. The Wakandan army is especially well-suited to fighting an alien invasion, so if the Avengers can get Thanos pointed there, his forces are going to have a much rougher time.
Thanos’ goals are similar to those of his comic-book counterpart, though it seems like it may not be for the same reasons. In the “Infinity Gauntlet†storyline, Thanos was trying to impress the living embodiment of Death, one of the many members of Marvel’s Cosmic universe. In an effort to impress her, he eliminated half of all life in the universe, though she wasn’t having any of it (she’s just not into you, dude). Here, his goal remains the same, but it doesn’t seem like he’s trying to win the affections of any cosmic entities at this point. The story hasn’t hinted at that at all, and that would be a lot to take in.

In the trailer, Thanos has already captured the Power stone from the Nova Corps, who had it following Guardians of the Galaxy, and he’s dropping in the Space Stone. If you’ve seen Thor: Ragnarok, you’ll remember Loki stopping and raising an eyebrow at the Tesseract from the first Avengers movie. It turns out that Loki did indeed snatch it, and it ends up in the hands of Thanos, who crushes it to extract the stone.
A few brief shots give us hints of things to come. Loki seems to have allied himself with Thanos in the process of losing the Space stone and is now hanging out with Thanos’ Black Order. His dear brother Thor is with Rocket and Groot, and seems to be forging himself a new hammer, the Storm Breaker, which we know is in the movie thanks to the Avengers toy line:

Article source: https://www.technobuffalo.com/2018/03/16/avengers-infinity-war-trailer-breakdown/