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1. To exchange something in return for some other thing as part of a deal or compromise. I'd be willing to trade off some of my salary for the ability to work three days a week, to be honest.
2. To take turns doing something. We all trade off various chores around the house each week.
trade something off
1. Lit. to get rid of something in an exchange. I traded my car off. I traded off my old car for a new one.
2. Fig. to sacrifice something in an exchange. You may end up trading job security off for more money. Don't trade off your job security.
Exchange one thing for another, especially as a compromise. For example, They were willing to trade off some vacation for the freedom to work flexible hours. This idiom gave rise to tradeoff for "an exchange." [First half of 1800s]
To take turns: My roommate and I trade off washing the dishes.