President’s cut, receiving a wound (6)
I believe the answer is:
trauma
'a wound' is the definition.
(I've seen this before)
I can't explain the remainder of the clue.
(Other definitions for trauma that I've seen before include "Physical injury - powerful emotional shock" , "Emotional shock, long-lasting" , "Bodily or mental shock" , "Psychological wound" , "Physical or mental shock" .)