Two-way describes something that works or moves in both directions. A two-way street allows cars to travel in opposite directions, with one lane going north and another going south. A two-way radio lets you both talk and listen, unlike a regular radio where you can only hear broadcasts.

Communication works best when it's two-way. A two-way conversation means both people talk and listen to each other, sharing ideas back and forth. If only one person talks while the other stays silent, that's really a one-way speech, not a conversation. Good friendships are two-way relationships: both friends support each other, with each person giving and receiving support.

The phrase it goes both ways captures this same idea. If your parents expect you to be respectful, and you expect them to respect you too, that expectation goes both ways. When a coach demands punctuality from players, that responsibility goes both ways if the coach also needs to arrive on time.