This article explores the supposition that international price margins in the U.S. Pacific Northwest-Japan softwood trade are influenced by nontariff trade barriers and inelastic supplies of international transportation services. Furthermore, it pursues the hypothesis that a regime separation occurs in the log trade with the existence and extent of rent creation related to conditions in the export market. Estimated price spreads which depend on trade volume serve as evidence. These factors magnify elasticities that measure the response of Japan's prices to changes in U.S. prices. Moreover, U.S. supplies on this market are more price-inelastic than its sheer size would suggest.