As of their NU5 upgrade on May 31, Zcash no longer relies on a trusted setup [1] [2].
Only for people creating and using the new Halo 2 Orchard addresses though, unless I'm mistaken? Since the old Groth16 addresses are still in use and can still be created, then the risk of someone compromising the entire set up and printing unlimited ZEC in secret remains. Doesn't really make a difference if the addresses I am using are trustless, when the majority of the network are still using addresses based on the old system.
Zcash need to phase out all old addresses before this upgrade means anything.