I know multiplayer went live recently, has anyone tested the trading?

Can we trade anything? What are the limitations?

Thanks!

Not sure how it is right now but they have an interesting spin on it.
Basically you will be able to choose between being able to trade on the market OR better drops.
So if you want to play solo self found, you will be rewarded.
You will be able to switch between the two but you will have to level it up again from 1.
Source: https://forum.lastepoch.com/t/trade-development-update-introducing-merchants-guild-and-circle-of-fortune-factions/51994

They will also have items that drop if you are playing with a buddy that you can then use on an item to give to them.

Leveling in merchants guild will allow you to trade and get discounts on trading. Also unlock more slots in marketplace.
Leveling in circle of fortune will drop more unique's with legendary potential, more exalts, easier crafting.

do you know when this will be implemented?

no date set yet as far as I could find. They do say the item sharing with friends will probably be implemented first so I wouldn't expect the market too soon.

"Gifting" is already implemented. Anytime you find an item in a party with a friend you can send that item to your friend. There is no trading of drops found while solo farming. If for example your friend needs a bow that drops frequently from a boss, he can fight the boss with you when you're full stability in that boss' monolith and when you find the bow you can "gift" it to him. There is no trade interface, and random people who have never partied with you cannot receive any of your items.