From Longman Dictionary of Contemporary English(it) cuts both ways(it) cuts both waysEQUAL spoken used to say that something has two effects, especially a good effect and a bad one The higher the interest rate, the greater the financial risk – which, of course, cuts both ways. → cut
Examples from the Corpus
(it) cuts both ways• The company will probably discover, to its chagrin, that it cuts both ways.• It cuts both ways to both parties.• When our album Cuts Both Ways was released in 1989, I couldn't believe how successful it was. 