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Irish Independent
08-05-2025
- Irish Independent
Gardaí arrest two men (60s) after €10m of herbal cannabis seized in Co Clare
The 500kgs of the drug was discovered as part of an intelligence-led operation carried out yesterday. The Revenue's Customs Service, the Garda National Drugs and Organised Crime Bureau (GNDOCB) and Clare Divisional Drugs Unit, as well as gardaí from the Limerick Division took part in the joint operation. Two men in their 60s were arrested by gardaí and are currently detained at Garda stations in Clare and Limerick under Section 2 of the Criminal Justice Drug Trafficking Act 1996. A Garda spokesperson said a raid was carried out on a residential property where two pallets containing over 500kgs of cannabis herb, valued at more than €10 million, were recovered "The seized cannabis will be sent for analysis to Forensic Science Ireland (FSI),' the spokesperson added. 'Investigations remain ongoing and further updates will follow.' Gardaí said the seizure forms part of Operation Tara, the enhanced national anti-drugs strategy, which was launched by Garda Commissioner Drew Harris in July 2021. The focus of Operation Tara is to disrupt, dismantle and prosecute drug trafficking networks, at all levels - international, national, local - involved in the importation, distribution, cultivation, production, local sale and supply of controlled drugs. Revenue added in a statement that the seizure is part of ongoing joint investigations involving organised crime groups and the importation, sale and supply of illegal drugs 'If businesses, or members of the public, have any information regarding drug smuggling, they can contact Revenue in confidence on phone number 1800 295 295,' a Revenue spokesperson said.
Irish Daily Mirror
28-04-2025
- Irish Daily Mirror
Man arrested after €720k of cannabis found stashed in trailer at Dublin Port
One man has been arrested after nearly three quarters of a million euros worth of cannabis was uncovered stashed in a trailer at Dublin Port. On Saturday, as a result of risk profiling, Revenue officers seized 36kg of herbal cannabis, with an estimated value of €720,000, at Dublin Port. The seizure was made when Revenue officers stopped and searched an unaccompanied trailer that had arrived into Dublin Port from Holyhead. A man in his 20s was arrested, and is currently detained at a Garda Station in Dublin under Section 2 of the Criminal Justice (Drug Trafficking) Act 1996. The operation was led by Revenue's Customs Service and supported by the An Garda Síochána Dublin Metropolitan Region (DMR) North Central Divisional Drugs Unit. A spokesperson for Revenue said that investigations are ongoing. They added: 'This seizure is part of Revenue's ongoing operations targeting organised crime groups and the importation, sale and supply of illegal drugs. 'If businesses, or members of the public, have any information regarding smuggling, they can contact Revenue in confidence on Confidential Phone Number 1800 295 295.' A Garda spokesperson confirmed on Monday that the man had been charged and was due in court. They said: "An Garda Síochána have arrested and charged a man following the seizure of €720,000 of cannabis at Dublin Port on Saturday." "He has since been charged and is scheduled to appear before the Criminal Courts of Justice (CCJ No.1) this morning, Monday, 28 April 2025, at approximately 10:30 am"
Irish Daily Mirror
25-04-2025
- Irish Daily Mirror
Gardaí arrest man and woman after €224,000 cannabis seizure in Dublin
Gardaí have arrested two people after Revenue seized €224,000 worth of cannabis following searches in Dublin. On Friday, as part of intelligence-led operations, Revenue officers seized 11.2kgs of cannabis, with an estimated value of €224,000, at two separate locations in Dublin. A man aged in his 40s and a woman aged in her 50s were arrested by Gardaí and are currently detained at Garda Stations in Dublin under Section 2 of the Criminal Justice (Drug Trafficking) Act, 1996. These seizures were made as a result of joint operations conducted by Revenue's Customs Service, the Garda National Drugs and Organised Crime Bureau (GNDOCB), and DMR North Central and DMR East Divisional Drugs Units. A male, aged in his 40s, and a female, aged in her 50s, were arrested by An Garda Síochána. Both individuals are currently detained, at Garda Stations in Dublin, under Section 2 of the Criminal Justice (Drug Trafficking) Act, 1996. A spokesperson for Revenue said that investigations are ongoing. They added: 'These seizures are part of Revenue's ongoing joint investigations involving organised crime groups and the importation, sale and supply of illegal drugs. 'If businesses, or members of the public, have any information regarding drug smuggling, they can contact Revenue in confidence on phone number 1800 295 295.'
Egypt Independent
22-04-2025
- Business
- Egypt Independent
Want evidence Trump's tariffs are upending the global economy? Here it is
New York CNN — Ever since President Donald Trump introduced his first round of new tariffs, it's been a waiting game to see just how much they'll impact the global economy. This week, one of the earliest signs was revealed — and it wasn't pretty. South Korea's Customs Service reported that exports for the first 20 days of April declined by 5.2 percent compared to the same period last year. That singular data point is a 'key bellwether' for where trade is heading, Min Joo Kang, a senior economist at ING, said in a note on Monday. The decline in exports came after Trump enacted a 25 percent tariff on all aluminum, steel and auto imports. All other South Korean imports were also briefly subject to a 25 percent 'reciprocal' tariff before Trump delayed it until July. Instead, imports from there are subject to a nearly universal 10 percent tariff. That was evident in the data, which showed that car and steel shipments fell 6.5 percent and 8.7 percent, respectively, year over year for the first 20 days of April. Overall exports from South Korea to the US declined by 14.3 percent from last year. The bright spot was semiconductor exports, which rose 10.2 percent compared to last April. Semiconductors remain exempt from US tariffs, but Trump has said he aims to implement tariffs as high as 25 percent on the product. For now, the South Korean data suggests that 'US tariffs are complicating global trade dynamics,' Kang said. Vehicles produced by South Korean automaker Kia Motors are lined up ready to be shipped at the Port of Pyeongtaek on April 3. Chung Sung-Jun/Getty Images Tubes are stacked inside a small metal fabrication plant in Seoul, South Korea, on February 11. Jeon Heon-Kyun/EPA-EFE/Shutterstock But things can often change on a month-to-month basis, so it might be too early to jump to any conclusions, cautioned Lee Branstetter, an economics and public policy professor at Carnegie Mellon University. It is, however, 'reasonable to attribute part of the export decline to the Trump-related disruptions in trade,' he told CNN. Branstetter, who previously served as senior economist for international trade and investment on former President Barack Obama's Council of Economic Advisers, said he expects forthcoming trade data from other American trade partners to paint a similar picture. But those changes might not show up as fast because it can take a while for new tariffs to manifest in trade data, he added. Forthcoming trade data likely won't be cut and dry The chaos that's ensued from Trump's on-and-off tariffs makes it increasingly hard to draw firm conclusions from forthcoming trade data. For starters, it's possible that some countries' data will show exports to the US increased this month as businesses sought to take advantage of the 'reciprocal' tariff pause. Another major factor at play is the overarching uncertainty from Trump's trade policies. For instance, the president recently claimed he's negotiating deals with other nations, which he said could be finalized in a matter of weeks. At the same time, he's also threatened new tariffs. That uncertainty could be causing businesses to pause international orders altogether. That means some countries' exports could decline, said Branstetter. For instance, one toy company CNN spoke with earlier this month said it stopped ordering goods from China over fears tariffs will continue to rise. The trade picture for South Korea and the US could change, however, if talks between the two nations are sucessful. South Korean Finance Minister Choi Sang-mok and Trade Minister Ahn Duk-geun are set to meet with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer on Thursday. The Trump administration has said it wants to prioritize trade deals with allies like South Korea.
Yahoo
22-04-2025
- Business
- Yahoo
Want evidence Trump's tariffs are upending the global economy? Here it is
Ever since President Donald Trump introduced his first round of new tariffs, it's been a waiting game to see just how much they'll impact the global economy. This week, one of the earliest signs was revealed — and it wasn't pretty. South Korea's Customs Service reported that exports for the first 20 days of April declined by 5.2% compared to the same period last year. That singular data point is a 'key bellwether' for where trade is heading, Min Joo Kang, a senior economist at ING, said in a note on Monday. The decline in exports came after Trump enacted a 25% tariff on all aluminum, steel and auto imports. All other South Korean imports were also briefly subject to a 25% 'reciprocal' tariff before Trump delayed it until July. Instead, imports from there are subject to a nearly universal 10% tariff. That was evident in the data, which showed that car and steel shipments fell 6.5% and 8.7%, respectively, year over year for the first 20 days of April. Overall exports from South Korea to the US declined by 14.3% from last year. The bright spot was semiconductor exports, which rose 10.2% compared to last April. Semiconductors remain exempt from US tariffs, but Trump has said he aims to implement tariffs as high as 25% on the product. For now, the South Korean data suggests that 'US tariffs are complicating global trade dynamics,' Kang said. But things can often change on a month-to-month basis, so it might be too early to jump to any conclusions, cautioned Lee Branstetter, an economics and public policy professor at Carnegie Mellon University. It is, however, 'reasonable to attribute part of the export decline to the Trump-related disruptions in trade,' he told CNN. Branstetter, who previously served as senior economist for international trade and investment on former President Barack Obama's Council of Economic Advisers, said he expects forthcoming trade data from other American trade partners to paint a similar picture. But those changes might not show up as fast because it can take a while for new tariffs to manifest in trade data, he added. The chaos that's ensued from Trump's on-and-off tariffs makes it increasingly hard to draw firm conclusions from forthcoming trade data. For starters, it's possible that some countries' data will show exports to the US increased this month as businesses sought to take advantage of the 'reciprocal' tariff pause. Another major factor at play is the overarching uncertainty from Trump's trade policies. For instance, the president recently claimed he's negotiating deals with other nations, which he said could be finalized in a matter of weeks. At the same time, he's also threatened new tariffs. That uncertainty could be causing businesses to pause international orders altogether. That means some countries' exports could decline, said Branstetter. For instance, one toy company CNN spoke with earlier this month said it stopped ordering goods from China over fears tariffs will continue to rise. The trade picture for South Korea and the US could change, however, if talks between the two nations are sucessful. South Korean Finance Minister Choi Sang-mok and Trade Minister Ahn Duk-geun are set to meet with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer on Thursday. The Trump administration has said it wants to prioritize trade deals with allies like South Korea. Sign in to access your portfolio
