Longman Dictionary of Contemporary English homepage

offset

1 verb
     
off‧set1 past tense and past participle offset, present participle offsetting [transitive]
1 if the cost or amount of something offsets another cost or amount, the two things have an opposite effect so that the situation remains the same:
Cuts in prices for milk, butter, and cheese will be offset by direct payments to farmers.
offset something against something
He was able to offset his travel expenses against tax.
2 to make something look better by being close to it and different:
His blonde hair offset a deep tan.
Definition from the Longman Dictionary of Contemporary English
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