This WaPo article gives a cursory description of the economic malady that is US sugar prices. Americans currently pay more than three times the world price for sugar so North Dakota and Minnesota Red River Valley beet farmers can buy new diesel 4x4 crew cab pick-ups every year.
Effective today:
The price US producers receive for raw sugar: 24.59 cents/lb
US price for refined sugar: 36.00 cents/lb
US retail price for sugar: 61.70 cents/lb
World market price for sugar 11.11 cents/lb
At the same time, there's a world-wide glut of sugar. According to the United Nations FAO, sugar production this year will reach a record 187.6 million tonnes, an 11.1% increase.
Researchers at Iowa State University speculate that the U.S. sugar program decreases consumer welfare by as much as $2.9 to $3.5 billion each year. More information is available here.
The point is that trade protectionism does more harm to the country imposing restrictions than it does to its economic adversaries.
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