FT Professional Glossary
Offset
To use one cost, payment or situation in order to cancel or reduce the effect of another
Example usage from an FT article:
In a speech in Michigan on Tuesday, Trump offered small rebates to carmakers that produce their vehicles in the US to offset the costs of his broader levies, as well as an exemption from the administration’s tariffs on steel and aluminium for imported parts.
Excerpt from "General Motors to deploy ‘Covid playbook’ to offset $5bn tariff hit"
