No, it’s true about the fellow-American (7)
I believe the answer is:
refusal
'no' is the definition.
(thesaurus)
'true about the fellow-american' is the wordplay.
'true' becomes 'real' ('real' can be similar in meaning to 'true'**).
'about' means one lot of letters goes inside another.
'the fellow' becomes 'f' (abbreviation - of a society etc.).
'american' becomes 'us'.
'f'+'us'='fus'
'real' placed around 'fus' is 'REFUSAL'.
'it's' is the link.
(Other definitions for refusal that I've seen before include "Declining of an offer" , "Rejection; turning-down" , "Non-acceptance" , "Act of a horse stopping short at a jump" , "Stop by fence" .)