Despite the advances in solar cells based on lead halide perovskites, the nature of photogenerated charges and trap states within these materials remains unclear. A model describing recombination in CH3NH3PbI3-xClx has been developed that accounts for phonon-assisted free-exciton and free-carrier trapping. We utilize optical spectroscopies and observe significant co-existence of the tetragonal and orthorhombic structural phases at low temperatures. From these measurements, we evaluate the longitudinal-optical phonon energy, exciton binding energy, and temperature-dependent electronic bandgap. We use these parameters to model the temperature- and fluence-dependent time-resolved photoluminescence decays, enabling us to demonstrate how shallow traps from which carriers can be re-excited can account for the delayed recombination in lead halide perovskites. The trap-state density reaches a maximum at the tetragonal to orthorhombic phase transition at ∼140 K, suggesting the formation of disorder-induced trap states, which are shown to dominate the recombination dynamics in CH3NH3PbI3-xClx.