The US President hit back at the speculation over the alleged Russian collusion in his 2016 campaign.
In a Fox News interview with Sean Hannity, Trump outlined the dossier had been created when he suggested someone was spying on his campaign.
He went on to say the dossier had been paid for by Hillary Clinton, his competitor at the time.
Railing against the Mueller report, he said: “If you wrote this as a novel no-one would buy it would be failure no-one would buy it because it would be too unbelievable.”
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He said: “When I said there could be someone spying on my campaign, they went wild out there.
“They couldn’t believe that I could say such a thing. As it turned out that was small potatoes compared to what went on.
“The millions and millions that was spent on the phoney dossier paid for by Hillary Clinton.
“They used the dossier to start things and there was no truth behind it.
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“If you wrote this as a novel nobody would buy it would be failure no-one would buy it because it would be too unbelievable.
“Nobody would believe it was possible.
“You can never allow this to happen to another President.
“It was an embarrassment to our country that they were allowed to get away with this and hopefully they won’t get away with it.”
Trump later claimed the investigation had been used as an “insurance policy” against him in case Mrs Clinton lost the election.
He called the report “ridiculous” and said it should be considered treason.
Mr Hannity asked Trump what needs to happen to stop this from happening again.
He said: “I’m going to leave to the new attorney general. I’m going to let them do what they want to do. I would imagine they don’t like what they see. I didn’t want to involve myself in this thing. I wish it didn’t take so long.”
“It’s a horrible situation and an incredible outcome and see how it all started but going to leave this to other people.”