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Trading was confirmed long ago, there's no reason why it would be possible.
If it's not obvious, I meant "no reason why it wouldn't be possible", too late for me to go back and edit.
If the game lets you start a new game, then you can just overwrite your old save.
Pokémon games don't let you do that any more. For the past few generations, it won't let you overwrite an existing save file with a new game, you have to do a specific combination of buttons on the title screen or something to delete the save.
Of course, with these games, we should have multiple save files anyway, so it hopefully won't be an issue.
[[PSN - MilesEdgeworth]] ~~ [[Switch - 5798.9459.4957]] Comprehensive list of pokemon confirmed for Sword/Shield - https://bit.ly/2k0G2cu