According to several dictionaries, a "trunk" is a large case or box that can be used when travelling or for storage, whereas a "chest" is used only for storage. Is that the only difference between the concepts of "chest" and "trunk"? Which word is more common? Which one comes to your mind first when you see that kind of large box?
Learn English – Difference between “chest” and “trunk”
vocabulary
Best Answer
These definitions were found on Wordnik:
I found it interesting that the words were practically synonymous in two very different senses.
As to your comment: dictionaries do not seem to be very specific when defining "trunk" and "chest", that's partly because, much like the storage items themselves, the words are very versatile.
Quite often, you'll find a descriptive word in front of chest: treasure chest, tea chest, tool chest, medicine chest, e.g.
There are other ways the words differ, too: some might call a bureau a chest (or chest of drawers), and many of us carry a key that opens the trunk of our car. I suggest visiting the Wordnik pages for expanded definitions and example uses.
As for using the words in your original sense (to describe an object such as the one depicted below), I think you were onto something when you said we'd be more likely to travel with a trunk than with a chest, but I might use either word to describe the object in the picture.