Countervailing means pulling with about the same strength, but the other way. A countervailing force does not wipe a thing out by magic; it balances it, checks it, or weighs against it. You almost only see this in serious writing: law, money, and argument. Trade news talks about a countervailing duty — a tax meant to answer another country's help to its own factories. People do not say it in the street. There is a rare verb, countervail, but the -ing form is the one that lives, sitting in front of a noun: countervailing power, countervailing reasons. It is next door to 'balancing' and 'offsetting', but it keeps a flavour of 'this is strong too, in the opposite direction'.

抗衡的、制衡的（貿易新聞裡的 countervailing duty，台灣稱「平衡稅」）