1
general::
Have a mixed effect, have advantages and disadvantages. For example, Their solution will cut both ways; it'll take longer but is permanent. This metaphoric expression alludes to a double-edged sword. [c. 1600]
American Heritage Idioms
2
general::
Phrase(s): cut both ways
to affect both sides of an issue equally. • Remember that your suggestion that costs should be shared cuts both ways. Your division will have to reduce its budget as well. • If our side cannot take along supporters to the game, then yours cannot either. The rule has to cut both ways.
McGrawhill's American Idioms And Phrasal Verbs