Attempt to grab a waistcoat in America? It’s a farce (8)
I believe the answer is:
travesty
'a farce' is the definition.
(synonyms)
'attempt to grab a waistcoat in america?' is the wordplay.
'attempt' becomes 'try' (synonyms).
'to grab' means one lot of letters goes inside another.
'waistcoat in america?' becomes 'vest' (US term for a waistcoat).
'a'+'vest'='avest'
'try' going around 'avest' is 'TRAVESTY'.
'it's' acts as a link.
(Other definitions for travesty that I've seen before include "Grossly unfair representation" , "Vary test (anag.)" , "Charade" , "Absurd misrepresentation" , "Grotesque parody" .)