This two-word verb is used in active voice - "He called it off" - and in passive voice - "It was called off" - in both conversation and in reading. Let's look at today's headlines and see how this two-word verb is being used today in the news.
Kushner company, Chinese firm call off development deal
Grammar background: This verb is a transitive verb, which means the verb always takes an object. Here, the Kushner company and a Chinese firm call off WHAT? A development deal.
Let's substitute the subject pronoun "they" for Kushner's company and the Chinese firm and the object pronoun "it" for "the development deal." Be careful about word order: THEY CALL IT OFF.
Here's the following sentence in the news article (color mine):
The Chinese conglomerate Anbang and the family of Jared Kushner have called off talks to redevelop a Manhattan office tower.
To CALL SOMETHING OFF means to cancel something that was planned. What deal did they call off? Why? What is a "conflict-of-interest"? What is the conflict-of-interest in this case?
Did you ever have a vacation planned but somebody got sick? You may have had to call off your vacation or a trip.
Sometimes it gets even nastier. Here's another headline:
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