Sugar Act

[AI summary unavailable — showing source text] Sugar Act - Sets forth the policy of Congress with respect to foreign trade in sugar. Title I: International Sugar Agreement 1977 - Authorizes the President to limit or prohibit the importation of sugar and to otherwise regulate foreign trade in sugar to implement the International Sugar Agreement. Requires the President to submit to Congress an annual report on the Agreement. Title II: Import Adjustments - Requires the Secretary of Agriculture to determine each July, the minimum domestic market price per pound for the coming sugar supply year (October 1 through September 30 of the two succeeding calender years). Establishes a minimum price of $13.50 cents per pound, raw sugar equivalent. Authorizes the Secretary to impose an import fee to achieve the domestic market price objective. Requires the Secretary to recommend to the President quotas for the importation of sugar if necessary to achieve the domestic price objective. Exempts certain items from the fee and quota provisions. Title III: Sugar Payment Program - Directs the Commodity Credit Corporation to make deficiency payments available to processors or producers of domestic sugarbeets and sugarcane each year through the 1982 …