Meaning of “ratchet sth down” in the English Dictionary

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"ratchet sth down" in Business English

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ratchet sth down

phrasal verb with ratchet uk /ˈrætʃɪt/ us verb

to reduce something in controlled stages over a period of time:

The state plans to ratchet down greenhouse gas emissions by 25% within the next 10 years.

(Definition of “ratchet sth down” from the Cambridge Business English Dictionary © Cambridge University Press)