While Marvel has been fairly open regarding where in the Marvel Cinematic Universe timeline Ant-Man and the Wasp would fit, the first teaser trailer for the film makes it perfectly clear.
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The first footage featured in the trailer places the Ant-Man sequel firmly after the events of Captain America: Civil War, but before the world-shattering proceedings of Avengers: Infinity War. While Marvel has clarified that on several occasions in interview or other press pieces, it's understandable that not everyone was up to speed on the film's official timeline positioning.
The question as to when the movie would take place in the MCU timeline first reared its head when fans took notice that Marvel's next big film, Avengers: Infinity War, was hitting theaters May 4, while Ant-Man and the Wasp was coming July 6. Considering that Infinity War is only part 1 of an epic storyline, some started to wonder if the Paul Rudd and Evangeline Lilly-starring film would actually be a sequel of sorts to the next cosmic Avengers team-up movie.
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This is a noteworthy departure for Marvel's movies, which tend to follow a relatively linear timeline as they are released. Even Captain America: The First Avenger, while taking place in the days of World War II, was a flashback story bookended with scenes set in the present of the MCU.
Opening July 6, director Peyton Reed’s Ant-Man and the Wasp stars Paul Rudd as Scott Lang, Evangeline Lilly as Hope van Dyne, Michael Douglas as Hank Pym, Michelle Pfeiffer as Janet van Dyne, Judy Greer as Maggie, Bobby Canavale as Paxton, Michael Peña as Luis, T.I. as Dave, David Dastmalchian as Kurt, Walton Goggins as Sonny Burch, Hannah John-Kamen as Ghost, and Laurence Fishburne as Bill Foster.