Sarcasm of the press on the fourth of July (5)
I believe the answer is:
irony
'sarcasm' is the definition.
(I know that sarcasm can be written as irony)
'press on the fourth of july' is the wordplay.
'press' becomes 'iron' (ironing is a kind of pressing).
'on' says to put letters next to each other (in a down clue, letters appear on others).
'the fourth of july' becomes 'y' (fourth letter of the word 'July').
'iron'+'y'='IRONY'
'of the' acts as a link.
(Other definitions for irony that I've seen before include "The use of words which is the opposite of what they say" , "Scornful wit" , "situation showing incongruity" , "form of sarcasm" , "Form of satire, like Fe" .)