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The phrase "terms of trade" is correct and usable in written English.
It typically refers to the terms and conditions which outline how two parties agree to exchange goods or services. For example: "We are in the process of negotiating the terms of trade before signing the contract."
Dictionary
terms of trade
noun
Relative price of exports in terms of imports, defined as the ratio of weighted average export prices to weighted average import prices.
Exact(58)
No. Their terms of trade?
That was the terms of trade.
Now the terms of trade have reached new heights.
But Italy's terms of trade have weakened significantly.
Britain was only ninth in terms of trade with Libya.
Today, most undergraduates are women, shifting the terms of trade.
Plop, too, will go the terms of trade.
He said: "That used to be the terms of trade.
Fair terms of trade are key to this.
Similar(2)
One is a terms-of-trade shift.
Likewise, the terms-of-trade motive has rather limited potential for strategic burden shifting.
More suggestions(21)
general terms of trade
terms of sector
terms of transaction
terms of traffic
terms of commercialization
modalities of trade
terms of industry
terms of investment
dimensions of trade
terms of marketing
terms of retail
concerns of trade
terms of labor
rules of trade
terms of interaction
principles of trade
provisions of trade
terms of merchant
structures of trade
terms of dollars
point of view of trade
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com