vscode_keybindings_terminal.jsonc

// Adds keybindings for changing focus between terminals, add new terminal, and killing focused terminal
[
    {
        "key": "cmd+alt+right",
        "command": "workbench.action.terminal.focusNext",
        "when": "terminalFocus"
    },
    {
        "key": "cmd+alt+left",
        "command": "workbench.action.terminal.focusPrevious",
        "when": "terminalFocus"
    },
    {
        "key": "cmd+n",
        "command": "workbench.action.terminal.new",
        "when": "terminalFocus"
    },
    {
        "key": "cmd+w",
        "command": "workbench.action.terminal.kill",
        "when": "terminalFocus"
    }
]

vscode_keybindings_toggle_file_terminal.jsonc

// Toggle between terminal and editor focus - https://stackoverflow.com/a/43012779
[
    {
        "key":     "ctrl+`",
        "command": "workbench.action.terminal.focus"
    },
    {
        "key":     "ctrl+`",
        "command": "workbench.action.focusActiveEditorGroup",
        "when":    "terminalFocus"
    }
]

Taken from This answer on StackOverflow, as I could not get the built-in keybindings to work as expected.