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"offset the effects" is a correct and usable phrase in written English.
You can use "offset the effects" when discussing strategies or solutions to balance out or counteract possible adverse effects. For example, "To offset the effects of the drought, the farmers implemented a water conservation plan."
Exact(60)
Storing rainwater can also offset the effects of drought.
He has allowed Burress to play without practicing to offset the effects of an injury.
She recently ran the London Marathon, partly to offset the effects of that passion.
The company said it expected high fuel costs to continue and to more than offset the effects of cost-cutting.
It said growth at its driveline business which supplies components to car makers had offset the effects of currency fluctuations.
Higher ticket prices and increased demand helped offset the effects of rising fuel prices, and its shares climbed 3.8%.
Trade adjustment assistance – payments to US workers affected by import competition – has not offset the effects of job losses.
At occasional concert appearances, Swarbrick appeared on stage with an oxygen cylinder to offset the effects of emphysema.
In both cases, higher prices offset the effects of lower sales volumes.
Dean Baker catches David Ignatius suggesting that trade liberalization can provide enough economic boost to offset the effects of austerity.
As a minimum, the research budget as a whole should be protected in real terms, with increases to offset the effects of inflation.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com