Retraction
late Middle English: from Latin retract- ‘drawn back’, from the verb retrahere (from re- ‘back’ + trahere ‘drag’); the senses ‘withdraw (a statement’) and ‘go back on’ via Old French from retractare ‘reconsider’ (based on trahere ‘drag’).
wiktionary
re- + traction
etymonline
retraction (n.)
late 14c., retraccioun, "withdrawal of an opinion," from Latin retractionem (nominative retractio) "a drawing back, hesitation, refusal," noun of action from past-participle stem of retractare "revoke, cancel," from re- "back" (see re-) + tractere "draw violently," frequentative of trahere "to draw" (see tract (n.1)).
Originally the English title of a book by St. Augustine ("Retraciones") correcting his former writings. General sense of "a withdrawal or drawing back" is from early 15c. The meaning "recantation of opinion with admission of error" is from 1540s.