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what does $1tn mean?

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It means a trillion dollars, just like $1bn means a billion.

However, I don't know if the authors would use

• the US notion of "billion"--10E9 for consistency with the "$", IF US $ are met;
• the UK notion of "billion"--10E12

The SI prefixes work.

US billion (million * thousand = thousand^2 * thousand) = 1 G$(US) ("1 Gigadollar")
UK billion (million^2) = 1 T$(US) ("1 Teradollar")