What is proposed is a transforming cargo trailer system of which the basic embodiment is an enclosed box trailer that is built small and light enough to be towed behind a medium size motorcycle. The enclosed box trailer embodiment is comprised of a convertible cargo box, a frame assembly, a pair of suspension assemblies, an axle assembly, an air supply system, and means for adapting, reducing or transforming the enclosed box trailer embodiment into a toy hauler trailer embodiment, a common wagon box trailer embodiment, a flat-bed trailer embodiment, and a raised platform embodiment. Also, the enclosed box trailer embodiment can also be built in a large variety of models that can be utilized for a large variety of applications.