Trim on Outside of Laredo

[swan2125]

During my inspection of my trailer today, I noticed that the white molding that runs around the trailer was coming away from the trailer between the door and the outdoor kitchen. Its weird because the chalking is still in place on the top of the trim and the seams are still together, but it looks like its peeling up the side of the trailer (pulling what's seems to be a protective coating away from the trailer?) (See attached photos). Weird. My first thought was to cut the part that was peeling and then re-chalk the trim. I can't figure out if its pulling on the sticker or what.

Has anyone ran into this problem before?

Thanks.