Vehicle for trustee and president (5)
I believe the answer is:
trike
'vehicle' is the definition.
(short for tricycle)
'trustee and president' is the wordplay.
'trustee' becomes 'tr' (abbreviation).
'and' means one lot of letters go next to another.
'president' becomes 'ike' (nickname of Dwight Eisenhower).
'tr'+'ike'='TRIKE'
'for' is the link.
(Other definitions for trike that I've seen before include "Briefly solvent" , "Child's vehicle" , "Three-wheeled vehicle" , "Three-wheeler" , "Tricycle (inf.)" .)