HM Revenue & Customs (HMRC) seized 18,881 litres of wine, 67,000 cigarettes and 92 kilos of tobacco from a container in Newport Docks.
The haul was made up of 25,175 bottles of Corte Dorata, 'illicit whites' cigarettes not legally for sale in the UK, and counterfeit Golden Virginia and Amber Leaf tobacco.
They were seized following an HMRC operation aimed at disrupting the illegal diversion of alcohol from mainland Europe. The duty evaded on the haul is estimated at almost £93,000.
A van, tractor unit and trailer were also removed from the site.
Investigations are continuing.
Keith Morgan from Criminal Investigation, HMRC said: "Smugglers care little for the quality of the product they sell, and they have no qualms about selling to children. I would urge anyone offered alcohol, tobacco or cigarettes at knock-down prices to steer clear - buying these items has far reaching effects way beyond a cheap smoke or drink. "
Anyone with information about smuggling can call our Customs Hotline on 0800 59 5000."