Eh... I feel like I hear claims of both directions. The Chinese internet is full of people claiming that Taiwanese people can't read simplified Chinese or that PRC people can't read traditional Chinese.
FWIW, anecdotally every mainland Chinese person I've met has been able to read traditional characters. For some of them it is, however, more laborious. All of them have been able to read long tracts in traditional Chinese (think the length of a newspaper article or longer), although sometimes it takes obvious effort. This has not been true of some Taiwanese people I've met for simplified characters.
I'm mostly tempted to chalk this up to environmental factors rather than reasons intrinsic to the script. The mainland often gets a lot of Taiwanese cultural imports, while I don't think Taiwan gets as much cultural imports from the mainland. Furthermore there is a lot of stylistic usage of traditional characters in the mainland (posters, store signs, branding, calligraphy, artwork) and university-level Classical Chinese language classes (aimed at domestic students) are often taught exclusively with traditional characters. In comparison there is essentially no usage of simplified characters at all in Taiwan.
The two scripts essentially have a one-to-one correspondence with each other anyways so it's not really that hard to go between the two if you have full fluency in one.