Once your clip is in your timeline, you can quickly trim your clip one of two ways. You can use editing functionality via In/Out points, and simply Lift (Z on the keyboard) or Extract (X on the keyboard), to remove the parts of your audio you don’t want. 

If you’d like a more interactive way of adjusting in/out points, you can use Trim mode by hitting U on the keyboard. Once the trim tools is activated, you can now dynamically drag the start or the end of the clip to adjust it’s starting/ending point