You approach a situation and are unsure which term applies. Put the assessment in the correct order.

Determine whether you yourself are carrying out a special manoeuvre (driving off, driveway, merging, reversing)

If so: apply 'letting go first', to all other traffic

If not, and it is simply crossing traffic at a junction: apply 'giving priority'

Also always check separately: is there a blind or mobility-impaired person? You let them go first regardless