International Sugar Agreement Act

International Sugar Agreement Act - Title I: International Sugar Agreement, 1977 - Authorizes the President to limit the entry into the United States of sugar from foreign countries, territories, and areas not members of the International Sugar Organization, and to prohibit the entry of any quantity of sugar without a valid certificate of contribution, in order to enforce the provisions of the International Sugar Agreement, 1977.

Requires the President to report annually to Congress: (1) information about the general level of world and domestic prices of sugar and their relationship to any domestic United States sugar support program; and (2) a summary of domestic and international actions taken under the Agreement to protect the interests of United States consumers and producers.

Title II: Sugar Import Adjustments - Directs the Secretary of Agriculture to determine the price per pound, raw value, (but not less than 14.5 cents per pound, raw value) below which he has reason to believe that sugar should not be sold in the domestic market during each sugar supply year (October 1-September 30).

Authorizes the Secretary to impose import fees on the entry of sugar in any recognized commercial form in that amount (not exceeding 20 cents per pound, raw value) determined necessary to achieve the price objective. Requires the Secretary to review the effect on such fees on a supply year quarter basis, and to adjust them, if appropriate, in order to achieve the price objective.

Directs the President to establish any global quotas recommended by the Secretary, with which he concurs. Authorizes the President to suspend any fees or quotas, or any other operation of this Title, in the event of a national economic or other emergency with respect to sugar.

Prohibits officials engaged in the administration of this Title from investing in sugar.

Establishes criminal and civil penalties for violations of this Act.