It's no fairy tale and no "big lie" as you like to promote.
As to imports being affected - sure thay will be; by the amount of the FairTax on those things that are taxable. Whether this raises prices to consumers or not is hard to tell since probably its biggest effect will be to slow sales of imports meaning that consumers buy less of those higher-priced imported things (and not pay more for them, though a few will).
So $1.335 Trillion is not big? To me an error that amounts to over 10% of our total economy is pretty big, but that is just me.