As you play the game, the wandering trader and its trader llamas will come and find you. You can trade with the wandering trader. ... Because there are a number of ways to unleash a trader llama, you don't need to kill the wandering trader to unleash its trader llamas.
Does killing a wandering trader affect villagers?
Nope. I was highly annoyed with the one who spawned by our main base. I killed him and walled in the llamas. They despawned and later others showed up at our village roughly 800 blocks away.
Is it bad to kill wandering trader?
Whenever a player kills one, a system similar to Village Popularity will have points decreased (e.g. everytime you kill a trader you lose 10 points). This will decrease their spawning rate and quality of trades of further Traders more the lower it gets.